OFS Capital Corporation Announces Quarterly Dividend of $0.17 (NASDAQ:OFS)

OFS Capital Corporation (NASDAQ:OFS) declared a quarterly dividend on Thursday, July 30th. Shareholders of record on Friday, September 18th will be paid a dividend of 0.17 per share by the investment management company on Monday, October 5th. This represents a c) dividend on an annualized basis and a yield of 20.7%. The ex-dividend date is Friday, September 18th.

OFS Capital has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 3 consecutive years. OFS Capital has a dividend 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.

OFS Capital Stock Down 4.6%

NASDAQ OFS opened at $3.29 on Friday. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.49. The stock’s 50 day moving average is $3.53 and its two-hundred day moving average is $3.83. The company has a market capitalization of $44.09 million, a price-to-earnings ratio of -1.18 and a beta of 0.84. OFS Capital has a 1-year low of $2.72 and a 1-year high of $8.99.

OFS Capital (NASDAQ:OFS) last released its quarterly earnings data on Thursday, July 30th. The investment management company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.06). OFS Capital had a negative net margin of 95.15% and a positive return on equity of 8.74%. The company had revenue of $11.99 million during the quarter, compared to the consensus estimate of $7.87 million.

Hedge Funds Weigh In On OFS Capital

Several institutional investors have recently bought and sold shares of OFS. Royal Bank of Canada increased its stake in shares of OFS Capital by 53.3% in the fourth quarter. Royal Bank of Canada now owns 11,500 shares of the investment management company’s stock valued at $55,000 after buying an additional 4,000 shares in the last quarter. Bank of America Corp DE raised its stake in shares of OFS Capital by 245.3% in the fourth quarter. Bank of America Corp DE now owns 7,079 shares of the investment management company’s stock worth $57,000 after acquiring an additional 5,029 shares during the last quarter. Concorde Asset Management LLC bought a new stake in shares of OFS Capital during the first quarter valued at approximately $64,000. Jane Street Group LLC acquired a new stake in shares of OFS Capital in the fourth quarter valued at approximately $66,000. Finally, Squarepoint Ops LLC acquired a new position in OFS Capital during the 4th quarter worth $202,000. Institutional investors own 10.81% of the company’s stock.

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.