OFS Credit Company, Inc. Announces Monthly Dividend of $0.11 (NASDAQ:OCCI)

OFS Credit Company, Inc. (NASDAQ:OCCI) declared a monthly dividend on Monday, May 6th, Wall Street Journal reports. Stockholders of record on Tuesday, June 18th will be given a dividend of 0.105 per share on Friday, June 28th. This represents a $1.26 annualized dividend and a dividend yield of 17.21%. The ex-dividend date of this dividend is Tuesday, June 18th.

OFS Credit has increased its dividend by an average of 52.7% per year over the last three years. OFS Credit has a payout ratio of 116.7% meaning 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 $1.08 per share next year, which means the company may not be able to cover its $1.26 annual dividend with an expected future payout ratio of 116.7%.

OFS Credit Trading Up 1.7 %

Shares of NASDAQ OCCI opened at $7.32 on Wednesday. The company’s 50-day moving average price is $7.07 and its 200 day moving average price is $6.76. OFS Credit has a 52 week low of $5.47 and a 52 week high of $10.15. The stock has a market cap of $79.20 million, a price-to-earnings ratio of -14.64 and a beta of 1.29.

OFS Credit (NASDAQ:OCCI) last announced its quarterly earnings results on Friday, March 8th. The company reported $0.45 earnings per share (EPS) for the quarter. The business had revenue of $8.44 million during the quarter. As a group, research analysts expect that OFS Credit will post 1.14 earnings per share for the current year.

Insider Buying and Selling at OFS Credit

In related news, major shareholder Eagle Point Credit Management sold 1,500 shares of OFS Credit stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $22.64, for a total transaction of $33,960.00. Following the completion of the sale, the insider now owns 109,328 shares in the company, valued at approximately $2,475,185.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 44,303 shares of company stock worth $1,002,992. 9.43% of the stock is owned by insiders.

OFS Credit Company Profile

OFS Credit Company, Inc is a fund of OFS Advisor.