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

Key Points

• OFS Credit Company, Inc. declared a monthly dividend of $0.12 per share, set to be paid on January 30th, with an annual yield of 28.6%.
• The company's payout ratio is 160.5%, indicating it is unable to cover its dividend entirely through earnings, which raises concerns about future dividend sustainability.
• OFS Credit's stock has seen a decline of 6.0% recently, trading at $4.82 with a market cap of $75.91 million and a PE ratio of 20.08.

OFS Credit Company, Inc. (NASDAQ:OCCI - Get Free Report) announced a monthly dividend on Thursday, October 16th. Investors of record on Thursday, January 15th will be paid a dividend of 0.115 per share on Friday, January 30th. This represents a c) dividend on an annualized basis and a yield of 28.6%. The ex-dividend date is Thursday, January 15th.

OFS Credit has a payout ratio of 160.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect OFS Credit to earn $0.86 per share next year, which means the company may not be able to cover its $1.38 annual dividend with an expected future payout ratio of 160.5%.

OFS Credit Stock Down 6.0%

OFS Credit stock traded down $0.31 during midday trading on Thursday, reaching $4.82. The stock had a trading volume of 1,485,981 shares, compared to its average volume of 318,282. OFS Credit has a 12 month low of $4.73 and a 12 month high of $7.58. The firm's 50-day moving average price is $5.69 and its 200 day moving average price is $6.07. The firm has a market capitalization of $75.91 million, a PE ratio of 20.08 and a beta of 0.65.

OFS Credit (NASDAQ:OCCI - Get Free Report) last announced its quarterly earnings results on Friday, September 12th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.07). The firm had revenue of $12.05 million during the quarter, compared to analysts' expectations of $12.05 million. Equities research analysts expect that OFS Credit will post 0.89 EPS for the current year.

About OFS Credit

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

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