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

OFS Credit Company, Inc. (NASDAQ:OCCI) announced a monthly dividend on Thursday, August 1st, Wall Street Journal reports. Stockholders 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 annualized dividend and a dividend yield of 17.99%. The ex-dividend date of this dividend is Friday, September 20th.

OFS Credit has increased its dividend payment by an average of 52.7% annually over the last three years. OFS Credit has a payout ratio of 127.8% 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 $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 Price Performance

NASDAQ OCCI opened at $7.67 on Wednesday. OFS Credit has a 1 year low of $5.47 and a 1 year high of $7.81. The company has a fifty day moving average price of $7.33 and a 200-day moving average price of $7.27. The firm has a market cap of $120.79 million, a price-to-earnings ratio of 13.22 and a beta of 1.33.

Insiders Place Their Bets

In other news, major shareholder Eagle Point Credit Management sold 1,742 shares of the company’s stock in a transaction 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 transaction, the insider now owns 15,435 shares of the company’s stock, valued at approximately $376,150.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 13,785 shares of company stock valued at $334,657 over the last ninety days. 2.76% of the stock is currently owned by insiders.

About OFS Credit

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