OFS Credit Company, Inc. (NASDAQ:OCCI - Get Free Report) declared a monthly dividend on Thursday, May 2nd, Zacks reports. Investors of record on Tuesday, May 21st will be paid a dividend of 0.105 per share on Friday, May 31st. This represents a $1.26 dividend on an annualized basis and a yield of 17.70%. The ex-dividend date is Monday, May 20th. This is a boost from OFS Credit's previous monthly dividend of $0.10.
OFS Credit has increased its dividend by an average of 52.7% per year over the last three years. OFS Credit has a dividend payout ratio of 111.1% 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 $1.20 annual dividend with an expected future payout ratio of 111.1%.
OFS Credit Stock Performance
Shares of OFS Credit stock traded up $0.11 during trading on Friday, reaching $7.12. 197,245 shares of the company's stock were exchanged, compared to its average volume of 119,676. OFS Credit has a 1-year low of $5.47 and a 1-year high of $10.15. The company has a market cap of $77.04 million, a P/E ratio of -14.24 and a beta of 1.29. The firm's 50-day moving average price is $7.06 and its 200 day moving average price is $6.75.
OFS Credit (NASDAQ:OCCI - Get Free Report) last issued its earnings results on Friday, March 8th. The company reported $0.45 EPS for the quarter. The business had revenue of $8.44 million for the quarter. As a group, equities research analysts predict that OFS Credit will post 1.14 EPS for the current year.
Insider Buying and Selling at OFS Credit
In other news, major shareholder Eagle Point Credit Management sold 13,515 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $22.62, for a total value of $305,709.30. Following the completion of the transaction, the insider now directly owns 123,233 shares in the company, valued at approximately $2,787,530.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 57,818 shares of company stock worth $1,308,701 over the last quarter. Corporate insiders own 9.43% of the company's stock.
OFS Credit Company Profile
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OFS Credit Company, Inc is a fund of OFS Advisor.
Further Reading
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