OFS Credit Company, Inc. (OCCI) to Issue Monthly Dividend of $0.12 on October 31st

Posted by Irma Garcia on Oct 19th, 2024

OFS Credit Company, Inc. (NASDAQ:OCCI – Get Free Report) announced a monthly dividend on Thursday, August 1st, Wall Street Journal reports. Shareholders of record on Monday, October 21st will be given a dividend of 0.115 per share on Thursday, October 31st. This represents a $1.38 annualized dividend and a dividend yield of 18.47%. The ex-dividend date is Monday, October 21st.

OFS Credit has raised its dividend by an average of 52.7% annually 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. 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 Stock Up 1.2 %

Shares of NASDAQ:OCCI opened at $7.47 on Friday. OFS Credit has a 52 week low of $5.47 and a 52 week high of $7.81. The company’s fifty day moving average is $7.41 and its 200 day moving average is $7.34. The stock has a market cap of $117.65 million, a PE ratio of 9.96 and a beta of 1.33.

OFS Credit (NASDAQ:OCCI – Get Free Report) last announced its earnings results on Friday, September 13th. The company reported $0.47 earnings per share (EPS) for the quarter. The firm had revenue of $7.45 million during the quarter. Sell-side analysts anticipate that OFS Credit will post 1.14 EPS for the current year.

Insider Buying and Selling at OFS Credit

In related 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 transaction of $42,452.54. Following the completion of the transaction, the insider now directly owns 15,435 shares in the company, valued at approximately $376,150.95. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 8,761 shares of company stock valued at $212,371. 2.76% of the stock is owned by company insiders.