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

Posted by Paula Ricardo on Oct 29th, 2024

OFS Credit Company, Inc. (NASDAQ:OCCI – Get Free Report) declared a monthly dividend on Tuesday, October 29th, Wall Street Journal reports. Investors of record on Friday, December 20th will be paid a dividend of 0.115 per share on Tuesday, December 31st. This represents a $1.38 dividend on an annualized basis and a yield of 19.88%. The ex-dividend date is Friday, December 20th.

OFS Credit has raised its dividend by an average of 52.7% annually over the last three years. OFS Credit has a dividend 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 Stock Down 1.3 %

NASDAQ OCCI traded down $0.09 on Tuesday, hitting $6.94. The company’s stock had a trading volume of 384,836 shares, compared to its average volume of 182,722. The firm has a market cap of $109.30 million, a PE ratio of 9.24 and a beta of 1.33. The company’s 50-day moving average is $7.39 and its 200 day moving average is $7.34. OFS Credit has a 1-year low of $5.47 and a 1-year high of $7.81.

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

Insider Buying and Selling

In other news, major shareholder Eagle Point Credit Management sold 1,742 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $24.37, for a total transaction of $42,452.54. Following the completion of the sale, the insider now directly owns 15,435 shares in the company, valued at $376,150.95. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold a total of 8,110 shares of company stock valued at $196,539 over the last ninety days. 2.76% of the stock is owned by company insiders.