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

OFS Capital Co. (NASDAQ:OFS) declared a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Shareholders of record on Friday, March 21st will be paid 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 payment by an average of 20.3% per year over the last three years. OFS Capital has a dividend 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. Research 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 Trading Up 0.1 %

Shares of OFS opened at $9.51 on Wednesday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.55. The stock has a market cap of $127.43 million, a PE ratio of -105.65 and a beta of 1.76. OFS Capital has a 1 year low of $7.75 and a 1 year high of $10.14. The stock has a 50 day simple moving average of $8.38 and a 200-day simple moving average of $8.29.

OFS Capital (NASDAQ:OFS) last released its quarterly earnings data on Monday, March 3rd. The investment management company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.05. OFS Capital had a positive return on equity of 11.26% and a negative net margin of 2.29%. The firm had revenue of $11.65 million during the quarter, compared to analyst estimates of $10.30 million. On average, sell-side analysts predict that OFS Capital will post 1.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On OFS Capital

A hedge fund recently raised its stake in OFS Capital stock. Bank of America Corp DE raised its stake in OFS Capital Co. (NASDAQ:OFS) by 245.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,079 shares of the investment management company’s stock after acquiring an additional 5,029 shares during the quarter. Bank of America Corp DE owned about 0.05% of OFS Capital worth $57,000 as of its most recent filing with the Securities and Exchange Commission. 10.81% of the stock is owned by hedge funds and other institutional investors.

About OFS Capital

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.