OFS Credit Company, Inc. (OCCI) To Go Ex-Dividend on September 20th

Posted by Elija Maina on Sep 18th, 2024

OFS Credit Company, Inc. (NASDAQ:OCCI – Get Free Report) declared a monthly dividend on Thursday, August 1st, Wall Street Journal reports. Investors of record on Friday, September 20th will be paid a dividend of 0.115 per share on Monday, September 30th. This represents a $1.38 dividend on an annualized basis and a yield of 17.99%. The ex-dividend date is Friday, September 20th.

OFS Credit has raised its dividend payment by an average of 52.7% per year over the last three years. OFS Credit has a 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. Equities research analysts expect OFS Credit to earn $1.08 per share next year, which means the company may not be able to cover its $1.38 annual dividend with an expected future payout ratio of 127.8%.

OFS Credit Trading Up 0.8 %

Shares of OFS Credit stock opened at $7.67 on Wednesday. The business has a 50-day moving average price of $7.33 and a two-hundred day moving average price of $7.27. OFS Credit has a 1-year low of $5.47 and a 1-year high of $7.81. The company has a market cap of $120.79 million, a P/E ratio of 13.22 and a beta of 1.33.

Insider Buying and Selling

In other OFS Credit news, major shareholder Eagle Point Credit Management sold 1,742 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $24.37, for a total value of $42,452.54. Following the transaction, the insider now directly owns 15,435 shares of the company’s stock, valued at $376,150.95. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold 13,785 shares of company stock valued at $334,657 over the last 90 days. Company insiders own 2.76% of the company’s stock.