OFS Capital Co. (NASDAQ:OFS) Announces Quarterly Dividend of $0.29

OFS Capital Co. (NASDAQ:OFSGet Rating) announced a quarterly dividend on Monday, May 9th, Wall Street Journal reports. Investors of record on Thursday, June 23rd will be paid a dividend of 0.29 per share by the investment management company on Thursday, June 30th. This represents a $1.16 dividend on an annualized basis and a yield of 9.81%. The ex-dividend date of this dividend is Wednesday, June 22nd. This is a positive change from OFS Capital’s previous quarterly dividend of $0.28.

OFS Capital has decreased its dividend payment by an average of 19.3% per year over the last three years and has raised its dividend annually for the last 2 consecutive years. OFS Capital has a dividend payout ratio of 100.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect OFS Capital to earn $1.12 per share next year, which means the company may not be able to cover its $1.12 annual dividend with an expected future payout ratio of 100.0%.

Shares of NASDAQ:OFS opened at $11.82 on Tuesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.33 and a current ratio of 0.33. The company has a market cap of $158.68 million, a PE ratio of 2.60 and a beta of 1.75. OFS Capital has a 52 week low of $8.77 and a 52 week high of $13.47. The firm has a 50 day simple moving average of $12.18 and a 200 day simple moving average of $11.19.

OFS Capital (NASDAQ:OFSGet Rating) last issued its quarterly earnings results on Friday, May 6th. The investment management company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.07). OFS Capital had a net margin of 119.05% and a return on equity of 7.38%. During the same quarter in the previous year, the company posted $0.19 earnings per share. On average, equities analysts predict that OFS Capital will post 1.21 earnings per share for the current year.

Several brokerages recently commented on OFS. Zacks Investment Research downgraded shares of OFS Capital from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. StockNews.com began coverage on shares of OFS Capital in a research report on Thursday, March 31st. They issued a “buy” rating for the company. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $11.50.

Several institutional investors have recently added to or reduced their stakes in OFS. Advisor Group Holdings Inc. raised its holdings in shares of OFS Capital by 122.4% during the 1st quarter. Advisor Group Holdings Inc. now owns 8,405 shares of the investment management company’s stock valued at $110,000 after purchasing an additional 4,625 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of OFS Capital by 41.6% during the 4th quarter. Wells Fargo & Company MN now owns 10,897 shares of the investment management company’s stock valued at $119,000 after purchasing an additional 3,201 shares in the last quarter. Millennium Management LLC raised its holdings in shares of OFS Capital by 110.4% during the 3rd quarter. Millennium Management LLC now owns 27,944 shares of the investment management company’s stock valued at $289,000 after purchasing an additional 14,662 shares in the last quarter. Finally, Morgan Stanley raised its holdings in shares of OFS Capital by 7.7% during the 2nd quarter. Morgan Stanley now owns 452,464 shares of the investment management company’s stock valued at $4,507,000 after purchasing an additional 32,499 shares in the last quarter. Institutional investors and hedge funds own 11.24% of the company’s stock.

OFS Capital Company Profile (Get Rating)

OFS Capital Corporation is a business development company specializing in direct and fund investments as well as add-on acquisitions. It provides flexible capital solutions primarily through debt capital and to a lesser extent, minority equity investments serving the needs of U.S.-based middle-market companies across a broad array of industries.

See Also

Dividend History for OFS Capital (NASDAQ:OFS)

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