OFS Credit Company, Inc. Declares Monthly Dividend of $0.12 (NASDAQ:OCCI)

OFS Credit Company, Inc. (NASDAQ:OCCI) announced a monthly dividend on Friday, January 16th. Stockholders of record on Friday, February 13th will be paid a dividend of 0.115 per share on Friday, February 27th. This represents a c) dividend on an annualized basis and a dividend yield of 33.3%. The ex-dividend date is Friday, February 13th.

OFS Credit has a dividend payout ratio of 173.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research 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 Price Performance

OFS Credit stock traded up $0.06 during trading hours on Wednesday, reaching $4.15. The company had a trading volume of 232,953 shares, compared to its average volume of 347,901. OFS Credit has a 12-month low of $4.03 and a 12-month high of $7.32. The company has a 50-day moving average price of $4.78 and a 200 day moving average price of $5.17. The firm has a market cap of $65.36 million, a price-to-earnings ratio of -11.21 and a beta of 0.59.

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

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded OFS Credit from a “buy” rating to a “hold” rating in a report on Saturday, January 31st.

OFS Credit Company Profile

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.