OFS Credit said on June 2, 2023 that its board of directors declared a regular quarterly dividend of $0.55 per share ($2.20 annualized). Previously, the company paid $0.55 per share.
Shares must be purchased before the ex-div date of June 13, 2023 to qualify for the dividend. Shareholders of record as of June 14, 2023 will receive the payment on July 31, 2023.
At the current share price of $9.65 / share, the stock's dividend yield is 22.80%.
Looking back five years and taking a sample every week, the average dividend yield has been 17.16%, the lowest has been 10.69%, and the highest has been 31.88%. The standard deviation of yields is 5.46 (n=179).
The current dividend yield is 1.03 standard deviations above the historical average.
The company's 3-Year dividend growth rate is 0.06%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 22 funds or institutions reporting positions in OFS Credit. This is an increase of 2 owner(s) or 10.00% in the last quarter. Average portfolio weight of all funds dedicated to OCCI is 0.06%, a decrease of 4.89%. Total shares owned by institutions decreased in the last three months by 5.56% to 571K shares.
Analyst Price Forecast Suggests 4.87% Downside
As of June 2, 2023, the average one-year price target for OFS Credit is 9.18. The forecasts range from a low of 9.09 to a high of $9.45. The average price target represents a decrease of 4.87% from its latest reported closing price of 9.65.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for OFS Credit is 31MM, an increase of 17.55%. The projected annual non-GAAP EPS is 1.21.
What are Other Shareholders Doing?
Bard Associates holds 111K shares. In it's prior filing, the firm reported owning 109K shares, representing an increase of 1.39%. The firm increased its portfolio allocation in OCCI by 8.32% over the last quarter.
Advisor Group Holdings holds 98K shares. In it's prior filing, the firm reported owning 109K shares, representing a decrease of 11.36%. The firm decreased its portfolio allocation in OCCI by 85.78% over the last quarter.
Wealth Enhancement & Preservation of GA holds 60K shares. In it's prior filing, the firm reported owning 59K shares, representing an increase of 1.87%. The firm increased its portfolio allocation in OCCI by 84,726.53% over the last quarter.
Baird Financial Group holds 51K shares. In it's prior filing, the firm reported owning 51K shares, representing a decrease of 1.06%. The firm decreased its portfolio allocation in OCCI by 62.66% over the last quarter.
Balboa Wealth Partners holds 49K shares.
OFS Credit Background Information
(This description is provided by the company.)
OFS Credit is a non-diversified, externally managed closed-end management investment company. The Company's investment objective is to generate current income, with a secondary objective to generate capital appreciation primarily through investment in CLO debt and subordinated securities. The Company's investment activities are managed by OFS Capital Management, LLC, an investment adviser registered under the Investment Advisers Act of 19401, as amended, and headquartered in Chicago, Illinois with additional offices in New York and Los Angeles.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
