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

Posted by Elija Maina on Oct 29th, 2024

OFS Credit Company, Inc. (NASDAQ:OCCI – Get Free Report) announced a monthly dividend on Monday, October 28th, Zacks 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 yield of 19.77%. The ex-dividend date is Tuesday, November 19th.

OFS Credit has increased its dividend 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.

OFS Credit Trading Down 0.7 %

OCCI stock traded down $0.05 during trading hours on Tuesday, hitting $6.98. 59,701 shares of the stock were exchanged, compared to its average volume of 181,166. The company has a 50-day simple moving average of $7.39 and a two-hundred day simple moving average of $7.34. The firm has a market capitalization of $109.94 million, a P/E ratio of 9.35 and a beta of 1.33. OFS Credit has a 12 month low of $5.47 and a 12 month high of $7.81.

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

Insider Transactions at OFS Credit

In related news, major shareholder Eagle Point Credit Management sold 1,375 shares of the stock in a transaction that occurred 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 sale, the insider now owns 31,107 shares of the company’s stock, valued at $731,636.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have sold 8,110 shares of company stock valued at $196,539. 2.76% of the stock is currently owned by company insiders.