OFS Capital Co. Plans Quarterly Dividend of $0.34 (NASDAQ:OFS)

OFS Capital Co. (NASDAQ:OFS) announced a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Investors of record on Friday, March 21st will be given a dividend of 0.34 per share by the investment management company on Monday, March 31st. This represents a $1.36 dividend on an annualized basis and a yield of 14.30%. The ex-dividend date is Friday, March 21st.

OFS Capital has increased its dividend by an average of 20.3% annually over the last three years. OFS Capital has a payout ratio of 138.8% indicating that 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 Capital to earn $1.01 per share next year, which means the company may not be able to cover its $1.36 annual dividend with an expected future payout ratio of 134.7%.

OFS Capital Stock Up 0.1 %

OFS stock opened at $9.51 on Wednesday. The firm has a market cap of $127.43 million, a PE ratio of -105.65 and a beta of 1.76. The company has a fifty day simple moving average of $8.38 and a 200 day simple moving average of $8.29. OFS Capital has a 1 year low of $7.75 and a 1 year high of $10.14. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.55.

OFS Capital (NASDAQ:OFS) last posted its earnings results on Monday, March 3rd. The investment management company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.05. OFS Capital had a negative net margin of 2.29% and a positive return on equity of 11.26%. The business had revenue of $11.65 million for the quarter, compared to analyst estimates of $10.30 million. Sell-side analysts anticipate that OFS Capital will post 1.17 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com lowered OFS Capital from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 13th.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in OFS Capital stock. Bank of America Corp DE lifted its position in OFS Capital Co. (NASDAQ:OFS) by 245.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,079 shares of the investment management company’s stock after acquiring an additional 5,029 shares during the period. Bank of America Corp DE owned approximately 0.05% of OFS Capital worth $57,000 at the end of the most recent quarter. 10.81% of the stock is owned by hedge funds and other institutional investors.

OFS Capital Company Profile

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.