OFS Capital Corporation (NASDAQ:OFS) to Issue Quarterly Dividend of $0.17

OFS Capital Corporation (NASDAQ:OFS) announced a quarterly dividend on Thursday, July 30th. Stockholders of record on Friday, September 18th will be given a dividend of 0.17 per share by the investment management company on Monday, October 5th. This represents a c) dividend on an annualized basis and a dividend yield of 20.7%. The ex-dividend date of this dividend is Friday, September 18th.

OFS Capital has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 3 consecutive years. OFS Capital has a dividend payout ratio of 87.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall.

OFS Capital Trading Down 4.6%

Shares of OFS stock opened at $3.29 on Friday. The stock has a market cap of $44.09 million, a P/E ratio of -1.18 and a beta of 0.84. OFS Capital has a 1 year low of $2.72 and a 1 year high of $8.99. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.49. The stock has a 50 day simple moving average of $3.53 and a 200 day simple moving average of $3.83.

OFS Capital (NASDAQ:OFS) last announced its quarterly earnings data on Thursday, July 30th. The investment management company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.06). The company had revenue of $11.99 million during the quarter, compared to analyst estimates of $7.87 million. OFS Capital had a negative net margin of 95.15% and a positive return on equity of 8.74%.

Analysts Set New Price Targets

OFS has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of OFS Capital in a research note on Thursday, June 4th. Wall Street Zen raised shares of OFS Capital from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $7.00.

About OFS Capital

OFS Capital Corporation (NASDAQ: OFS) is a business development company (BDC) that provides customized debt and equity financing solutions to U.S. middle-market companies. As an externally managed BDC, OFS Capital focuses on sponsoring capital structures that support growth initiatives, recapitalizations, acquisitions and other strategic transactions. The firm targets companies that demonstrate strong cash flow potential and scalable business models across a range of industries.

The company’s investment portfolio typically includes senior secured loans, unitranche facilities, mezzanine debt and equity co-investments.