OFS Credit Company, Inc. (OCCI) To Go Ex-Dividend on July 19th

OFS Credit Company, Inc. (NASDAQ:OCCI) declared a monthly dividend on Tuesday, May 7th, Wall Street Journal reports. Investors of record on Friday, July 19th will be paid a dividend of 0.105 per share on Wednesday, July 31st. This represents a $1.26 dividend on an annualized basis and a yield of 17.10%. The ex-dividend date of this dividend is Friday, July 19th.

OFS Credit has raised its dividend payment by an average of 52.7% annually over the last three years. OFS Credit has a payout ratio of 116.7% indicating that 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 $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 Price Performance

Shares of OFS Credit stock opened at $7.37 on Thursday. The firm has a fifty day moving average price of $7.08 and a two-hundred day moving average price of $6.77. OFS Credit has a fifty-two week low of $5.47 and a fifty-two week high of $10.15. The company has a market cap of $79.74 million, a PE ratio of -14.74 and a beta of 1.29.

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

Insiders Place Their Bets

In other OFS Credit news, major shareholder Eagle Point Credit Management sold 42,531 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $22.63, for a total value of $962,476.53. Following the sale, the insider now owns 52,266 shares of the company’s stock, valued at approximately $1,182,779.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders sold 42,803 shares of company stock worth $969,032. 9.43% of the stock is currently owned by company insiders.

OFS Credit Company Profile

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