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

OFS Credit Company, Inc. (NASDAQ:OCCI) announced a monthly dividend on Thursday, April 10th, Wall Street Journal reports. Investors of record on Monday, July 21st will be given a dividend of 0.115 per share on Thursday, July 31st. This represents a $1.38 annualized dividend and a 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 research 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 Down 2.4 %

NASDAQ:OCCI opened at $6.40 on Friday. OFS Credit has a twelve month low of $5.26 and a twelve month high of $7.81. The firm has a market capitalization of $100.79 million, a price-to-earnings ratio of 7.11 and a beta of 1.01. The stock’s 50 day moving average price is $6.79 and its two-hundred day moving average price is $7.07.

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

About OFS Credit

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