OFS Credit Company, Inc. to Issue Monthly Dividend of $0.05 (NASDAQ:OCCI)

OFS Credit Company, Inc. (NASDAQ:OCCI) announced a monthly dividend on Monday, February 23rd. Stockholders of record on Monday, March 16th will be given a dividend of 0.05 per share on Tuesday, March 31st. This represents a c) annualized dividend and a dividend yield of 18.9%. The ex-dividend date is Monday, March 16th.

OFS Credit has a payout ratio of 160.5% 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 $1.38 annual dividend with an expected future payout ratio of 160.5%.

OFS Credit Price Performance

Shares of OCCI traded down $0.01 during mid-day trading on Monday, reaching $3.17. The company had a trading volume of 1,032,285 shares, compared to its average volume of 462,274. The company has a market capitalization of $49.93 million, a P/E ratio of -8.57 and a beta of 0.60. OFS Credit has a twelve month low of $3.05 and a twelve month high of $7.17. The company’s 50-day moving average is $4.58 and its 200-day moving average is $5.04.

OFS Credit (NASDAQ:OCCI) last announced its quarterly earnings results on Wednesday, December 10th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). The business had revenue of $11.97 million during the quarter, compared to analysts’ expectations of $12.77 million. As a group, equities analysts expect that OFS Credit will post 0.89 EPS for the current fiscal year.

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.