OFS Credit Company, Inc. Plans Monthly Dividend of $0.11 (NASDAQ:OCCI)

OFS Credit Company, Inc. (NASDAQ:OCCI) declared a monthly dividend on Tuesday, May 7th, Wall Street Journal reports. Shareholders of record on Friday, July 19th will be given a dividend of 0.105 per share on Wednesday, July 31st. This represents a $1.26 dividend on an annualized basis and a dividend yield of 16.98%. The ex-dividend date of this dividend is Friday, July 19th.

OFS Credit has increased its dividend by an average of 52.7% per year over the last three years. OFS Credit has a 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. 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 NASDAQ OCCI traded up $0.10 during mid-day trading on Wednesday, hitting $7.42. 65,948 shares of the stock traded hands, compared to its average volume of 120,924. The stock has a fifty day moving average price of $7.07 and a 200-day moving average price of $6.76. The company has a market cap of $80.28 million, a price-to-earnings ratio of -14.64 and a beta of 1.29. OFS Credit has a 52 week low of $5.47 and a 52 week high of $10.15.

OFS Credit (NASDAQ:OCCI) last released its earnings results on Friday, March 8th. The company reported $0.45 earnings per share (EPS) for the quarter. The business had revenue of $8.44 million for the quarter. As a group, sell-side analysts predict that OFS Credit will post 1.14 EPS for the current fiscal year.

Insider Activity at OFS Credit

In related news, major shareholder Eagle Point Credit Management sold 1,500 shares of OFS Credit stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $22.64, for a total transaction of $33,960.00. Following the transaction, the insider now directly owns 109,328 shares in the company, valued at $2,475,185.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders sold 44,303 shares of company stock worth $1,002,992. 9.43% of the stock is owned by company insiders.

About OFS Credit

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