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

OFS Credit Company, Inc. (NASDAQ:OCCI - Get Free Report) announced a monthly dividend on Tuesday, July 22nd, Wall Street Journal reports. Investors of record on Wednesday, October 15th will be paid a dividend of 0.115 per share on Friday, October 31st. This represents a $1.38 annualized dividend and a yield of 22.92%. The ex-dividend date of this dividend is Wednesday, October 15th.

OFS Credit has a 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. 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 Trading Up 1.7%

OCCI stock traded up $0.10 during trading on Friday, hitting $6.02. The company had a trading volume of 239,030 shares, compared to its average volume of 234,428. The business has a 50-day moving average of $6.19 and a 200-day moving average of $6.59. OFS Credit has a one year low of $5.26 and a one year high of $7.78. The stock has a market cap of $94.81 million, a PE ratio of 35.41 and a beta of 0.77.

OFS Credit (NASDAQ:OCCI - Get Free Report) last announced its earnings results on Tuesday, June 10th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.24 by $0.13. The company had revenue of $10.24 million during the quarter, compared to the consensus estimate of $11.44 million. During the same quarter in the previous year, the company earned $0.28 earnings per share. Research analysts forecast that OFS Credit will post 0.89 EPS for the current year.

Hedge Funds Weigh In On OFS Credit

A hedge fund recently bought a new stake in OFS Credit stock. Jane Street Group LLC purchased a new stake in OFS Credit Company, Inc. (NASDAQ:OCCI - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 62,853 shares of the company's stock, valued at approximately $385,000. Jane Street Group LLC owned 0.40% of OFS Credit as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 23.77% of the company's stock.

OFS Credit Company Profile

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