OFS Capital Corporation (NASDAQ:OFS) Plans $0.17 Quarterly Dividend

OFS Capital Corporation (NASDAQ:OFS) declared a quarterly dividend on Thursday, February 26th, NASDAQ Dividends reports. Stockholders of record on Friday, March 20th will be paid a dividend of 0.17 per share by the investment management company on Tuesday, March 31st. This represents a c) annualized dividend and a dividend yield of 21.6%. The ex-dividend date of this dividend is Friday, March 20th.

OFS Capital has raised its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 3 consecutive years. OFS Capital has a payout ratio of 87.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect OFS Capital to earn $1.01 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 67.3%.

OFS Capital Stock Up 1.3%

OFS opened at $3.15 on Wednesday. The firm’s 50 day simple moving average is $4.38 and its two-hundred day simple moving average is $5.65. OFS Capital has a 1-year low of $3.06 and a 1-year high of $9.80. The company has a current ratio of 0.02, a quick ratio of 0.02 and a debt-to-equity ratio of 0.45.

OFS Capital (NASDAQ:OFS) last issued its quarterly earnings data on Monday, March 2nd. The investment management company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). OFS Capital had a negative net margin of 81.33% and a positive return on equity of 8.75%. The business had revenue of ($17.96) million for the quarter, compared to the consensus estimate of $10.50 million. As a group, equities research analysts expect that OFS Capital will post 1.17 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of OFS. Connor Clark & Lunn Investment Management Ltd. lifted its position in OFS Capital by 5.2% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 63,166 shares of the investment management company’s stock valued at $533,000 after purchasing an additional 3,105 shares during the last quarter. Royal Bank of Canada lifted its position in shares of OFS Capital by 53.3% during the fourth quarter. Royal Bank of Canada now owns 11,500 shares of the investment management company’s stock worth $55,000 after purchasing an additional 4,000 shares during the last quarter. Bank of America Corp DE lifted its holdings in OFS Capital by 245.3% during the 4th quarter. Bank of America Corp DE now owns 7,079 shares of the investment management company’s stock valued at $57,000 after buying an additional 5,029 shares in the last quarter. Two Sigma Investments LP lifted its stake in OFS Capital by 5.8% in the third quarter. Two Sigma Investments LP now owns 120,908 shares of the investment management company’s stock worth $930,000 after acquiring an additional 6,636 shares during the period. Finally, Jane Street Group LLC purchased a new stake in shares of OFS Capital in the 4th quarter worth approximately $66,000. 10.81% of the stock is currently owned by institutional investors.

About OFS Capital

OFS Capital Corporation (NASDAQ: OFS) is a business development company (BDC) that provides customized debt and equity financing solutions to U.S. middle-market companies. As an externally managed BDC, OFS Capital focuses on sponsoring capital structures that support growth initiatives, recapitalizations, acquisitions and other strategic transactions. The firm targets companies that demonstrate strong cash flow potential and scalable business models across a range of industries.

The company’s investment portfolio typically includes senior secured loans, unitranche facilities, mezzanine debt and equity co-investments.