OFS Credit Company, Inc. (NASDAQ:OCCI) to Issue $0.11 Monthly Dividend

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 yield of 17.21%. The ex-dividend date of this dividend is Friday, July 19th.

OFS Credit has raised its dividend payment by an average of 52.7% annually 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 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 Price Performance

NASDAQ:OCCI traded up $0.12 on Tuesday, reaching $7.32. The stock had a trading volume of 197,233 shares, compared to its average volume of 121,263. The firm’s fifty day moving average is $7.06 and its two-hundred day moving average is $6.76. OFS Credit has a 12-month low of $5.47 and a 12-month 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 firm had revenue of $8.44 million during the quarter. Research analysts expect that OFS Credit will post 1.14 EPS for the current year.

Insider Transactions at OFS Credit

In other news, major shareholder Eagle Point Credit Management sold 42,531 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $22.63, for a total transaction of $962,476.53. Following the transaction, the insider now directly owns 52,266 shares in the company, valued at approximately $1,182,779.58. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 44,303 shares of company stock worth $1,002,992 in the last three months. Company insiders own 9.43% of the company’s stock.

OFS Credit Company Profile

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