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

OFS Credit Company, Inc. (NASDAQ:OCCI) announced a monthly dividend on Friday, January 16th. Shareholders of record on Friday, February 13th will be given a dividend of 0.115 per share on Friday, February 27th. This represents a c) annualized dividend and a yield of 33.2%. The ex-dividend date is Friday, February 13th.

OFS Credit has a dividend payout ratio of 173.3% 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 $0.86 per share next year, which means the company may not be able to cover its $1.49 annual dividend with an expected future payout ratio of 173.3%.

OFS Credit Stock Performance

Shares of OFS Credit stock traded up $0.07 during midday trading on Wednesday, reaching $4.16. 255,228 shares of the company’s stock traded hands, compared to its average volume of 348,138. OFS Credit has a 52 week low of $4.03 and a 52 week high of $7.32. The company’s 50 day simple moving average is $4.78 and its 200 day simple moving average is $5.17. The company has a market cap of $65.44 million, a price-to-earnings ratio of -11.23 and a beta of 0.59.

OFS Credit (NASDAQ:OCCI) last posted its earnings results on Wednesday, December 10th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.04). The business had revenue of $11.97 million for the quarter, compared to analysts’ expectations of $12.77 million. As a group, equities research analysts predict that OFS Credit will post 0.89 earnings per share for the current year.

Institutional Investors Weigh In On OFS Credit

Several large investors have recently modified their holdings of the stock. NewEdge Advisors LLC lifted its position in shares of OFS Credit by 21.6% during the 1st quarter. NewEdge Advisors LLC now owns 17,696 shares of the company’s stock worth $108,000 after buying an additional 3,138 shares during the period. Jane Street Group LLC acquired a new position in OFS Credit during the first quarter worth $385,000. Naviter Wealth LLC acquired a new position in OFS Credit during the second quarter worth $128,000. Prospera Financial Services Inc bought a new position in shares of OFS Credit during the second quarter valued at $74,000. Finally, Fisher Asset Management LLC acquired a new stake in shares of OFS Credit in the 2nd quarter valued at $69,000. 23.77% of the stock is currently owned by institutional investors.

About OFS Credit

OFS Credit Company, Inc (NASDAQ: OCCI) is a closed-end, externally managed business development company that primarily invests in senior secured loans to U.S. middle-market companies. As a registered investment company under the Investment Company Act of 1940, OFS Credit seeks to generate current income and capital appreciation by providing first-lien and second-lien debt financing to privately held and sponsor-backed businesses. The company targets borrowers with stable cash flows and defensible market positions across diverse industries, including business services, healthcare, manufacturing and technology.

The company’s investment portfolio is weighted toward floating-rate loan instruments and subordinated debt, complemented by selective equity and equity-related securities.