OFS Credit Company, Inc. (NASDAQ:OCCI) Plans Monthly Dividend of $0.05

OFS Credit Company, Inc. (NASDAQ:OCCI) declared a monthly dividend on Monday, August 17th. Shareholders of record on Tuesday, September 15th will be given a dividend of 0.05 per share on Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 24.3%. The ex-dividend date of this dividend is Tuesday, September 15th.

OFS Credit has a dividend payout ratio of 127.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

OFS Credit Trading Down 1.6%

OFS Credit stock opened at $2.47 on Tuesday. The firm has a market capitalization of $72.55 million, a P/E ratio of -2.02 and a beta of 0.72. OFS Credit has a twelve month low of $2.15 and a twelve month high of $6.14. The stock’s fifty day simple moving average is $2.56 and its 200-day simple moving average is $3.03.

OFS Credit (NASDAQ:OCCI) last released its earnings results on Tuesday, June 9th. The company reported $0.19 earnings per share (EPS) for the quarter. The company had revenue of $9.20 million during the quarter.

Hedge Funds Weigh In On OFS Credit

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC boosted its holdings in OFS Credit by 21.6% in the first quarter. NewEdge Advisors LLC now owns 17,696 shares of the company’s stock valued at $108,000 after purchasing an additional 3,138 shares in the last quarter. Virtus Investment Advisers LLC raised its holdings in OFS Credit by 0.9% during the fourth quarter. Virtus Investment Advisers LLC now owns 421,233 shares of the company’s stock worth $2,039,000 after purchasing an additional 3,796 shares in the last quarter. Osaic Holdings Inc. raised its holdings in OFS Credit by 61.3% during the second quarter. Osaic Holdings Inc. now owns 10,783 shares of the company’s stock worth $67,000 after purchasing an additional 4,100 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of OFS Credit during the 2nd quarter worth approximately $26,000. Finally, Kestra Advisory Services LLC lifted its position in shares of OFS Credit by 12.1% during the 1st quarter. Kestra Advisory Services LLC now owns 92,856 shares of the company’s stock worth $268,000 after buying an additional 10,000 shares during the last quarter. 23.77% of the stock is owned by institutional investors and hedge funds.

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.