OFS Credit Company, Inc. (OCCI) To Go Ex-Dividend on February 13th

OFS Credit Company, Inc. (NASDAQ:OCCI) announced a monthly dividend on Friday, January 16th. Investors of record on Friday, February 13th will be given a dividend of 0.115 per share on Friday, February 27th. This represents a c) annualized dividend and a yield of 32.6%. The ex-dividend date of this dividend is Friday, February 13th.

OFS Credit has a dividend payout ratio of 173.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect OFS Credit to earn $0.86 per share next year, which means the company may not be able to cover its $1.49 annual dividend with an expected future payout ratio of 173.3%.

OFS Credit Stock Up 3.5%

Shares of NASDAQ OCCI traded up $0.15 during trading on Wednesday, hitting $4.24. The company had a trading volume of 299,051 shares, compared to its average volume of 350,616. OFS Credit has a fifty-two week low of $4.03 and a fifty-two week high of $7.32. The stock has a fifty day simple moving average of $4.78 and a two-hundred day simple moving average of $5.17. The firm has a market capitalization of $66.70 million, a price-to-earnings ratio of -11.45 and a beta of 0.59.

OFS Credit (NASDAQ:OCCI) last posted its quarterly earnings results on Wednesday, December 10th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.04). The firm had revenue of $11.97 million for the quarter, compared to analysts’ expectations of $12.77 million. On average, analysts anticipate that OFS Credit will post 0.89 earnings per share for the current year.

Hedge Funds Weigh In On OFS Credit

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James Financial Inc. bought a new stake in OFS Credit in the second quarter valued at about $26,000. TIAA Trust National Association purchased a new position in OFS Credit during the third quarter valued at approximately $54,000. Kestra Private Wealth Services LLC bought a new position in OFS Credit during the third quarter valued at approximately $56,000. One Capital Management LLC bought a new stake in shares of OFS Credit during the 3rd quarter worth about $58,000. Finally, Virtu Financial LLC bought a new position in shares of OFS Credit in the third quarter valued at approximately $58,000. Hedge funds and other institutional investors own 23.77% of the company’s stock.

About OFS Credit

OFS Credit Company, Inc (NASDAQ: OCCI) is a closed-end, externally managed business development company that primarily invests in senior secured loans to U.S. middle-market companies. As a registered investment company under the Investment Company Act of 1940, OFS Credit seeks to generate current income and capital appreciation by providing first-lien and second-lien debt financing to privately held and sponsor-backed businesses. The company targets borrowers with stable cash flows and defensible market positions across diverse industries, including business services, healthcare, manufacturing and technology.

The company’s investment portfolio is weighted toward floating-rate loan instruments and subordinated debt, complemented by selective equity and equity-related securities.