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

OFS Credit Company, Inc. (NASDAQ:OCCI) announced a monthly dividend on Friday, April 11th, Wall Street Journal reports. Stockholders of record on Monday, July 21st will be paid a dividend of 0.115 per share on Thursday, July 31st. This represents a $1.38 annualized dividend and a dividend yield of 21.56%. The ex-dividend date is Monday, July 21st.

OFS Credit has raised its dividend by an average of 32.5% annually over the last three years. OFS Credit has a dividend payout ratio of 160.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 stock opened at $6.40 on Friday. OFS Credit has a fifty-two week low of $5.26 and a fifty-two week high of $7.81. The stock’s 50 day simple moving average is $6.79 and its 200 day simple moving average is $7.07. The company has a market cap of $100.79 million, a P/E ratio of 7.11 and a beta of 1.01.

OFS Credit (NASDAQ:OCCI) last issued its earnings results on Friday, March 14th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The firm had revenue of $10.06 million during the quarter, compared to the consensus estimate of $9.59 million. Equities analysts predict that OFS Credit will post 0.89 earnings per share for the current year.

OFS Credit Company Profile

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