OFS Credit Company, Inc. (NASDAQ:OCCI) Declares $0.05 Monthly Dividend

OFS Credit Company, Inc. (NASDAQ:OCCI) declared a monthly dividend on Monday, February 23rd. Stockholders of record on Wednesday, April 15th will be paid a dividend of 0.05 per share on Thursday, April 30th. This represents a c) dividend on an annualized basis and a dividend yield of 18.9%. The ex-dividend date is Wednesday, April 15th.

OFS Credit has a dividend payout ratio of 160.5% 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 $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

OCCI opened at $3.17 on Tuesday. The business has a fifty day simple moving average of $4.55 and a 200 day simple moving average of $5.02. OFS Credit has a 1 year low of $3.05 and a 1 year high of $7.17. The company has a market capitalization of $49.93 million, a PE ratio of -8.57 and a beta of 0.60.

OFS Credit (NASDAQ:OCCI) last posted its quarterly earnings data 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 business had revenue of $11.97 million during the quarter, compared to analysts’ expectations of $12.77 million. Equities analysts anticipate that OFS Credit will post 0.89 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered OFS Credit from a “buy” rating to a “hold” rating in a research note 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.