OFS Credit Company, Inc. (NASDAQ:OCCI) Declares Monthly Dividend of $0.10

OFS Credit Company, Inc. (NASDAQ:OCCI) declared a monthly dividend on Thursday, February 1st, Wall Street Journal reports. Stockholders of record on Friday, April 19th will be paid a dividend of 0.10 per share on Tuesday, April 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 16.69%. The ex-dividend date is Thursday, April 18th.

OFS Credit has decreased its dividend by an average of 6.3% annually 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. 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

NASDAQ:OCCI opened at $7.19 on Wednesday. OFS Credit has a fifty-two week low of $5.47 and a fifty-two week high of $10.15. The company has a 50 day simple moving average of $7.02 and a two-hundred day simple moving average of $6.73.

OFS Credit (NASDAQ:OCCI) last posted its quarterly earnings data on Friday, March 8th. The company reported $0.45 EPS for the quarter. The firm had revenue of $8.44 million during the quarter. As a group, equities research analysts anticipate that OFS Credit will post 1.14 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Eagle Point Credit Management sold 24,665 shares of the business’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $22.64, for a total value of $558,415.60. Following the transaction, the insider now directly owns 275,635 shares of the company’s stock, valued at approximately $6,240,376.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 111,458 shares of company stock worth $2,528,883. Company insiders own 9.43% of the company’s stock.

Institutional Investors Weigh In On OFS Credit

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. grew its stake in shares of OFS Credit by 60.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 620,141 shares of the company’s stock valued at $4,006,000 after buying an additional 233,712 shares during the period. Advisor Group Holdings Inc. boosted its holdings in OFS Credit by 41.5% in the fourth quarter. Advisor Group Holdings Inc. now owns 108,956 shares of the company’s stock worth $885,000 after acquiring an additional 31,976 shares in the last quarter. Royal Bank of Canada grew its stake in OFS Credit by 3.3% in the third quarter. Royal Bank of Canada now owns 106,256 shares of the company’s stock valued at $939,000 after acquiring an additional 3,384 shares during the period. LPL Financial LLC bought a new stake in shares of OFS Credit during the third quarter valued at approximately $506,000. Finally, Baird Financial Group Inc. raised its position in shares of OFS Credit by 6.2% during the second quarter. Baird Financial Group Inc. now owns 53,727 shares of the company’s stock worth $449,000 after purchasing an additional 3,137 shares during the period. 23.77% of the stock is owned by institutional investors.

About OFS Credit

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