OFS Credit Company, Inc. (NASDAQ:OCCI – Get Free Report) announced a monthly dividend on Tuesday, May 7th, Wall Street Journal reports. Stockholders of record on Friday, July 19th will be given a dividend of 0.105 per share on Wednesday, July 31st. This represents a $1.26 dividend on an annualized basis and a dividend yield of 17.10%. The ex-dividend date is Friday, July 19th.
OFS Credit has increased its dividend payment by an average of 52.7% per year over the last three years. OFS Credit has a payout ratio of 116.7% 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 $1.08 per share next year, which means the company may not be able to cover its $1.26 annual dividend with an expected future payout ratio of 116.7%.
OFS Credit Stock Performance
Shares of OCCI opened at $7.37 on Thursday. The firm has a market cap of $79.74 million, a P/E ratio of -14.74 and a beta of 1.29. OFS Credit has a 52 week low of $5.47 and a 52 week high of $10.15. The firm’s 50-day simple moving average is $7.08 and its 200 day simple moving average is $6.77.
Insider Activity at OFS Credit
In related news, major shareholder Eagle Point Credit Management sold 42,531 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $22.63, for a total transaction of $962,476.53. Following the transaction, the insider now directly owns 52,266 shares of the company’s stock, valued at $1,182,779.58. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold 42,803 shares of company stock worth $969,032 in the last ninety days. 9.43% of the stock is owned by company insiders.
About OFS Credit
OFS Credit Company, Inc is a fund of OFS Advisor.
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