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

OFS Credit Company, Inc. (NASDAQ:OCCI) declared a dividend on Thursday, April 3rd, NASDAQ Dividends reports. Stockholders of record on Tuesday, May 20th will be given a dividend of 0.115 per share on Friday, May 30th. The ex-dividend date is Tuesday, May 20th.

OFS Credit has increased its dividend by an average of 32.5% per year over the last three years. OFS Credit has a dividend payout ratio of 160.5% indicating that 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 $0.86 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 160.5%.

OFS Credit Trading Up 2.3%

OCCI opened at $6.80 on Friday. OFS Credit has a 12-month low of $5.26 and a 12-month high of $7.81. The business’s fifty day simple moving average is $6.53 and its 200-day simple moving average is $6.94. The company has a market capitalization of $107.09 million, a price-to-earnings ratio of 7.56 and a beta of 0.84.

OFS Credit (NASDAQ:OCCI) last posted its quarterly earnings results on Friday, March 14th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The firm had revenue of $10.06 million for the quarter, compared to the consensus estimate of $9.59 million. On average, equities research analysts predict that OFS Credit will post 0.89 EPS for the current year.

Hedge Funds Weigh In On OFS Credit

A hedge fund recently raised its stake in OFS Credit stock. NewEdge Advisors LLC lifted its position in shares of OFS Credit Company, Inc. (NASDAQ:OCCI) by 21.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,696 shares of the company’s stock after buying an additional 3,138 shares during the quarter. NewEdge Advisors LLC owned approximately 0.11% of OFS Credit worth $108,000 at the end of the most recent quarter. 23.77% of the stock is currently owned by hedge funds and other institutional investors.

About OFS Credit

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