OFS Credit Company, Inc. (OCCI) to Issue Monthly Dividend of $0.11 on June 28th

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 paid 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 is Tuesday, June 18th.

OFS Credit has increased its dividend by an average of 52.7% annually over the last three years. OFS Credit has a dividend 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. 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 OFS Credit stock opened at $7.32 on Wednesday. The firm has a market cap of $79.20 million, a P/E ratio of -14.64 and a beta of 1.29. OFS Credit has a 12 month low of $5.47 and a 12 month high of $10.15. The stock’s fifty day moving average price is $7.07 and its 200-day moving average price is $6.76.

OFS Credit (NASDAQ:OCCI) last announced its quarterly earnings results on Friday, March 8th. The company reported $0.45 EPS for the quarter. The firm had revenue of $8.44 million for the quarter. Analysts forecast that OFS Credit will post 1.14 earnings per share for the current year.

Insider Activity

In related news, major shareholder Eagle Point Credit Management sold 1,500 shares of the firm’s 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 sale, the insider now owns 109,328 shares of the company’s stock, valued at $2,475,185.92. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders have sold 44,303 shares of company stock worth $1,002,992. Company insiders own 9.43% of the company’s stock.

OFS Credit Company Profile

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