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

Key Points

• OFS Credit Company, Inc. has declared a monthly dividend of $0.12 per share, which will be paid on December 31st to investors of record by December 12th. This represents an annual yield of 28.6%.
• The company's dividend payout ratio is currently at 160.5%, indicating it is relying heavily on its balance sheet for dividend payments rather than earnings.
• OFS Credit reported a quarterly earnings miss with earnings of $0.31 per share, falling short of analysts' expectations of $0.38, and had revenue matching estimates at $12.05 million.

OFS Credit Company, Inc. (NASDAQ:OCCI - Get Free Report) declared a monthly dividend on Thursday, October 16th. Investors of record on Friday, December 12th will be given a dividend of 0.115 per share on Wednesday, December 31st. This represents a c) dividend on an annualized basis and a yield of 28.6%. The ex-dividend date is Friday, December 12th.

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 Performance

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

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of OCCI. Graypoint LLC grew its stake in OFS Credit by 2.3% in the first quarter. Graypoint LLC now owns 168,540 shares of the company's stock valued at $1,031,000 after purchasing an additional 3,714 shares in the last quarter. Virtu Financial LLC acquired a new position in OFS Credit in the first quarter worth approximately $432,000. NewEdge Advisors LLC increased 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 worth $108,000 after buying an additional 3,138 shares during the last quarter. Jane Street Group LLC acquired a new position in OFS Credit in the first quarter worth approximately $385,000. Finally, MinichMacGregor Wealth Management LLC acquired a new position in OFS Credit in the second quarter worth approximately $73,000. Hedge funds and other institutional investors own 23.77% of the company's stock.

OFS Credit Company Profile

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

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