OFS Credit Company, Inc. (NASDAQ:OCCI) Plans Monthly Dividend of $0.12

Posted by Matthew Steigler on Aug 3rd, 2024

OFS Credit Company, Inc. (NASDAQ:OCCI – Get Free Report) announced a monthly dividend on Friday, August 2nd, Zacks reports. Investors of record on Tuesday, August 20th will be paid a dividend of 0.115 per share on Friday, August 30th. This represents a $1.38 annualized dividend and a dividend yield of 19.14%. The ex-dividend date is Tuesday, August 20th. This is a positive change from OFS Credit’s previous monthly dividend of $0.11.

OFS Credit has raised its dividend by an average of 52.7% per year 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 Stock Performance

Shares of OCCI traded up $0.02 on Friday, hitting $7.21. 284,665 shares of the stock traded hands, compared to its average volume of 177,355. The company has a market capitalization of $113.56 million, a PE ratio of 12.43 and a beta of 1.33. The business has a 50 day simple moving average of $7.36 and a 200 day simple moving average of $7.18. OFS Credit has a one year low of $5.47 and a one year high of $8.52.

OFS Credit (NASDAQ:OCCI – Get Free Report) last posted its earnings results on Tuesday, June 11th. The company reported $0.53 EPS for the quarter. The company had revenue of $8.07 million during the quarter. On average, equities analysts expect that OFS Credit will post 1.14 earnings per share for the current year.

Insiders Place Their Bets

In other OFS Credit news, major shareholder Eagle Point Credit Management sold 3,472 shares of OFS Credit stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $24.21, for a total value of $84,057.12. Following the completion of the sale, the insider now owns 25,287 shares of the company’s stock, valued at approximately $612,198.27. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last quarter, insiders sold 15,317 shares of company stock valued at $368,182. Company insiders own 2.76% of the company’s stock.