OFS Credit Company, Inc. (NASDAQ:OCCI) Plans Monthly Dividend of $0.11

OFS Credit Company, Inc. (NASDAQ:OCCI) announced a monthly dividend on Thursday, May 2nd, Zacks reports. Shareholders of record on Tuesday, May 21st will be given a dividend of 0.105 per share on Friday, May 31st. This represents a $1.26 dividend on an annualized basis and a yield of 17.70%. The ex-dividend date of this dividend is Monday, May 20th. This is a boost from OFS Credit’s previous monthly dividend of $0.10.

OFS Credit has increased its dividend payment by an average of 52.7% per year over the last three years. OFS Credit has a dividend payout ratio of 111.1% 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 $1.20 annual dividend with an expected future payout ratio of 111.1%.

OFS Credit Price Performance

Shares of OFS Credit stock traded up $0.11 on Friday, hitting $7.12. The company’s stock had a trading volume of 197,245 shares, compared to its average volume of 119,676. OFS Credit has a 52-week low of $5.47 and a 52-week high of $10.15. The firm has a fifty day moving average price of $7.06 and a 200-day moving average price of $6.75.

OFS Credit (NASDAQ:OCCI) last posted its earnings results on Friday, March 8th. The company reported $0.45 earnings per share (EPS) for the quarter. The company had revenue of $8.44 million during the quarter. On average, equities research analysts predict that OFS Credit will post 1.14 EPS for the current fiscal year.

Insider Buying and Selling at OFS Credit

In other news, major shareholder Eagle Point Credit Management sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $22.64, for a total value of $33,960.00. Following the completion of the transaction, the insider now owns 109,328 shares of the company’s stock, valued at $2,475,185.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last ninety days, insiders have sold 57,818 shares of company stock worth $1,308,701. Corporate insiders own 9.43% of the company’s stock.

OFS Credit Company Profile

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