OFS Credit Company, Inc. (NASDAQ:OCCI) to Issue $0.12 Monthly Dividend

Key Points

• OFS Credit Company, Inc. (NASDAQ:OCCI) announced a monthly dividend of $0.12 per share, with the ex-dividend date set for August 15th and a payment date of August 29th, reflecting an annualized dividend yield of 23.4%.
• The company reports a dividend payout ratio of 160.5%, indicating it cannot fully cover the dividend with earnings and relies on its balance sheet for payments.
• Despite recent earnings that beat analyst expectations with $0.37 EPS, OFS Credit's future earnings forecast may not support its dividend commitments effectively, as analysts expect only $0.86 per share next year.

OFS Credit Company, Inc. (NASDAQ:OCCI - Get Free Report) announced a monthly dividend on Wednesday, July 16th, NASDAQ Dividends reports. Shareholders of record on Monday, September 15th will be given a dividend of 0.115 per share on Tuesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 24.2%. The ex-dividend date of this dividend is Monday, September 15th.

OFS Credit has a dividend payout ratio of 160.5% 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 $1.38 annual dividend with an expected future payout ratio of 160.5%.

OFS Credit Stock Down 3.4%

OCCI traded down $0.20 during trading on Friday, reaching $5.71. 302,562 shares of the company's stock were exchanged, compared to its average volume of 376,173. OFS Credit has a fifty-two week low of $5.26 and a fifty-two week high of $7.78. The business has a 50 day moving average price of $6.09 and a 200 day moving average price of $6.45. The company has a market capitalization of $89.93 million, a P/E ratio of 33.59 and a beta of 0.80.

OFS Credit (NASDAQ:OCCI - Get Free Report) last posted its quarterly earnings results on Tuesday, June 10th. The company reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.13. The business had revenue of $10.24 million for the quarter, compared to analyst estimates of $11.44 million. During the same quarter in the prior year, the firm earned $0.28 EPS. As a group, research analysts forecast that OFS Credit will post 0.89 EPS for the current year.

OFS Credit Company Profile

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