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

Posted by Alanna Baker on Sep 19th, 2024

OFS Credit Company, Inc. (NASDAQ:OCCI – Get Free Report) declared 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 18.06%. The ex-dividend date 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% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Performance

OFS Credit stock opened at $7.64 on Thursday. The company has a market capitalization of $120.32 million, a PE ratio of 13.17 and a beta of 1.33. OFS Credit has a fifty-two week low of $5.47 and a fifty-two week high of $7.81. The firm has a 50 day moving average price of $7.34 and a 200 day moving average price of $7.28.

Insider Buying and Selling

In other OFS Credit news, major shareholder Eagle Point Credit Management sold 1,742 shares of OFS Credit stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $24.37, for a total value of $42,452.54. Following the completion of the transaction, the insider now directly owns 15,435 shares of the company’s stock, valued at approximately $376,150.95. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 13,774 shares of company stock valued at $334,390. Corporate insiders own 2.76% of the company’s stock.