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

Posted by Editorial Team on Nov 17th, 2024

OFS Credit Company, Inc. (NASDAQ:OCCI – Get Free Report) declared a monthly dividend on Monday, October 28th,Zacks Dividends reports. Investors of record on Tuesday, November 19th will be given a dividend of 0.115 per share on Friday, November 29th. This represents a $1.38 annualized dividend and a dividend yield of 19.25%. The ex-dividend date of this dividend is Tuesday, November 19th.

OFS Credit has raised its dividend by an average of 52.7% per year over the last three years. OFS Credit has a dividend payout ratio of 127.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

OFS Credit Price Performance

Shares of NASDAQ:OCCI opened at $7.17 on Friday. The business’s fifty day moving average price is $7.33 and its two-hundred day moving average price is $7.34. OFS Credit has a fifty-two week low of $5.89 and a fifty-two week high of $7.81. The stock has a market capitalization of $112.93 million, a price-to-earnings ratio of 9.56 and a beta of 1.34.

OFS Credit (NASDAQ:OCCI – Get Free Report) last issued its earnings results on Friday, September 13th. The company reported $0.47 EPS for the quarter. The firm had revenue of $7.45 million during the quarter.

Insiders Place Their Bets

In related news, major shareholder Eagle Point Credit Management sold 1,375 shares of OFS Credit stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $23.52, for a total transaction of $32,340.00. Following the completion of the sale, the insider now directly owns 31,107 shares of the company’s stock, valued at $731,636.64. The trade was a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders have sold 4,919 shares of company stock valued at $118,831. 2.76% of the stock is currently owned by corporate insiders.