Welcome to our dedicated page for Ofs Credit Company news (Ticker: OCCI), a resource for investors and traders seeking the latest updates and insights on Ofs Credit Company stock.
OFS Credit Company, Inc. (Nasdaq: OCCI) is a non-diversified, externally managed closed-end management investment company that primarily invests in collateralized loan obligation ("CLO") equity and debt securities. The company’s news flow focuses on its investment performance, portfolio composition, financing arrangements, and distributions to common stockholders.
News updates from OFS Credit often include announcements of financial results for fiscal quarters, highlighting net investment income (NII), Core Net Investment Income (Core NII), net asset value (NAV) per common share, and portfolio yields. The company also releases management commentary discussing factors that influenced results, such as changes in portfolio size, expenses, and cash flows from CLO equity investments.
Investors following OCCI news can also expect regular NAV updates. OFS Credit provides management’s unaudited estimates of the range of its NAV per share as of specific month-end dates, along with explanations that these estimates are preliminary and may differ from final figures reported in its regulatory filings. These NAV updates are accompanied by cautionary language about macroeconomic and geopolitical factors that could affect future NAV and investment income.
Another recurring theme in OFS Credit’s news is its distribution policy. The company issues press releases when its board of directors declares monthly cash distributions on common stock, specifying record dates, payment dates, and per-share amounts. Information about its dividend reinvestment plan (DRIP), including the availability of shares issued at a discount to market price for participating stockholders, is also included.
In addition, OFS Credit reports on significant financing and portfolio-related actions, such as entering into a Master Repurchase Agreement for CLO securities. For readers interested in CLO-focused investment companies, the OCCI news feed offers a detailed view of how the company reports its income, NAV trends, distributions, and key portfolio and financing developments over time.
OFS Credit Company, Inc. (NASDAQ: OCCI) announced its net asset value (NAV) estimate for common stock as of August 31, 2021, ranging from $14.10 to $14.20. This estimate is preliminary and not subject to typical financial closing procedures. The ongoing COVID-19 pandemic introduces significant risks that could materially affect the company's investments and financial performance. The unaudited preliminary data has not been reviewed by KPMG LLP, and actual results may differ significantly when reported in the Annual Report.
OFS Credit Company, Inc. (NASDAQ: OCCI) reported financial results for the quarter ending July 31, 2021, with a net investment income of $1.6 million ($0.26/share) and core net investment income of $3.6 million ($0.58/share). The board announced a quarterly distribution of $0.55 per share, a 2% increase from the previous quarter. The company's portfolio had an effective yield of 14.37% and net assets of approximately $94.8 million. Additionally, it raised $15.0 million via common stock sales, enhancing diversification and liquidity.
OFS Credit Company (NASDAQ: OCCI) declared a quarterly distribution of
OFS Credit Company (NASDAQ: OCCI) released a preliminary net asset value (NAV) estimate for its common stock, projected between $14.02 and $14.12 as of July 31, 2021. This estimate is unaudited and may differ significantly from the final NAV reported in the Company’s Form N-PORT. The report highlights ongoing risks posed by the COVID-19 pandemic, potentially affecting the valuation of investments, financial outcomes, and investment income. Additionally, preliminary financial data has not been reviewed by KPMG LLP, indicating heightened uncertainty in financial reporting.
OFS Credit Company (NASDAQ: OCCI) declared monthly cash distributions for its preferred stock series on August 5, 2021. The Series A will distribute $0.1432292 per share on six record dates from August 24, 2021, to January 24, 2022, with payable dates on the following days. Series B will distribute $0.1375 per share, Series C will distribute $0.1276042 per share, and Series D will pay $0.125 per share, also on a similar schedule. OFS Credit is focused on generating income through investments in CLO securities.
OFS Credit Company (NASDAQ: OCCI) released its unaudited net asset value (NAV) estimate for common stock as of June 30, 2021, ranging from $13.74 to $13.84. This preliminary estimate is not exhaustive and may change by the next report on Form N-PORT. Additionally, the company expressed concerns regarding the ongoing impacts of the COVID-19 pandemic, which could materially affect its investment portfolio's value and future net income. The data has not been audited by KPMG LLP, and potential risks are highlighted related to market volatility.
OFS Credit Company, Inc. (NASDAQ: OCCI) has updated its net asset value (NAV) estimate, reporting a range of $14.19 to $14.29 per share as of May 31, 2021. The company raised approximately $2.9 million through the issuance of 120,000 shares of 6.0% Series D Term Preferred Stock, priced at $24.50 each. The proceeds will be used for investments and general working capital. The press release highlights potential adverse impacts from the COVID-19 pandemic on the company's investments and financial condition, which could affect future NAV.
OFS Credit Company (NASDAQ: OCCI) reported a fiscal Q2 2021 net investment income of $1.0 million ($0.25 per share) and core net investment income of $2.9 million ($0.69 per share). The company announced a quarterly distribution of $0.54 per share, a 2% increase from the previous quarter, payable on July 30, 2021. As of April 30, 2021, the investment portfolio had a fair value of $100.4 million. Despite a slight increase in total expenses, the company benefited from a 105% total return over the past year, aided by effective CLO management and increased equity financing totaling $23.4 million.
OFS Credit Company (NASDAQ:OCCI) has declared a quarterly distribution of $0.54 per share, marking a 2% increase from the previous quarter for the period ending July 31, 2021. The distribution will consist of 20% cash and 80% stock, allowing stockholders to choose their preferred option. The record date is June 14, 2021, with a payment date set for July 30, 2021. OFS Credit aims to strengthen its balance sheet through this distribution, positioning itself for future investment opportunities.
FAQ
What is the current stock price of Ofs Credit Company (OCCI)?
What is the market cap of Ofs Credit Company (OCCI)?
