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

OFS Credit Company, Inc. (NASDAQ:OCCI) announced a monthly dividend on Monday, August 5th, Wall Street Journal reports. Investors of record on Friday, September 20th will be given a dividend of 0.115 per share on Monday, September 30th. This represents a $1.38 annualized dividend and a yield of 19.46%. The ex-dividend date is Friday, September 20th.

OFS Credit has raised its dividend by an average of 52.7% annually over the last three years. OFS Credit has a payout ratio of 127.8% 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 $1.38 annual dividend with an expected future payout ratio of 127.8%.

OFS Credit Stock Down 1.7 %

Shares of OCCI traded down $0.12 during midday trading on Monday, reaching $7.09. 464,554 shares of the stock were exchanged, compared to its average volume of 141,898. The stock’s 50 day simple moving average is $7.36 and its 200 day simple moving average is $7.19. OFS Credit has a twelve month low of $5.47 and a twelve month high of $8.52. The company has a market cap of $111.66 million, a P/E ratio of 12.22 and a beta of 1.33.

OFS Credit (NASDAQ:OCCI) last posted its quarterly earnings data on Tuesday, June 11th. The company reported $0.53 earnings per share (EPS) for the quarter. The business had revenue of $8.07 million during the quarter. As a group, analysts predict 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 the business’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $24.21, for a total transaction of $84,057.12. Following the sale, the insider now directly 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 Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 15,317 shares of company stock worth $368,182 over the last three months. Insiders own 2.76% of the company’s stock.

About OFS Credit

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