OFS Credit Company, Inc. reports recurring fund updates as a non-diversified, externally managed closed-end management investment company that primarily invests in collateralized loan obligation, or CLO, equity and debt securities. Its news commonly covers monthly unaudited NAV estimate ranges, fiscal-quarter financial results, net investment income, portfolio valuation, and board-declared common stock cash distributions.
Company updates also describe the dividend reinvestment plan for common stockholders and the role of OFS Capital Management, LLC as the registered investment adviser managing the company's investment activities.
OFS Credit Company, Inc. (NASDAQ: OCCI) announced its net asset value (NAV) estimate for November 30, 2022, ranging from $10.19 to $10.29 per share. This estimate is preliminary and has not gone through standard financial closing procedures, potentially differing from future NAV estimates. The company warns that ongoing economic challenges, including the COVID-19 pandemic, rising interest and inflation rates, and geopolitical tensions, could materially impact financial conditions and investment performance moving forward.
OFS Credit Company (NASDAQ: OCCI) reported its financial results for the fourth fiscal quarter and year ending October 31, 2022. Key highlights include a net investment income of $4.0 million, or $0.44 per share, an increase from $3.5 million in the prior quarter. However, core net investment income fell by $0.7 million to $3.9 million due to cash flow declines amid rising rates. As of October 31, 2022, NAV per share decreased to $9.98 from $10.61. The company declared a $0.55 distribution per share for January 2023. Cash available for investment stood at $12.5 million.
OFS Credit Company (NASDAQ: OCCI) announced a quarterly distribution of $0.55 per share for common stockholders, effective for the quarter ending January 31, 2023. Stockholders can choose to receive distributions in cash or shares, with approximately 80% paid in stock. This distribution aims to strengthen the company’s balance sheet for future investments. Additionally, the company declared monthly cash distributions through July 31, 2023 for its Series B, C, D, and E preferred stocks, maintaining a focus on generating current income.
OFS Credit Company (OCCI) reported a preliminary estimated net asset value (NAV) of its common stock ranging from $9.93 to $10.03 as of October 31, 2022. This estimate is unaudited and may differ from the final NAV, which will be disclosed in their Annual Report. The Company warns that its financial condition could be adversely affected by ongoing factors, including the COVID-19 pandemic, inflation, and geopolitical tensions, which may impact future investment income and portfolio value.
OFS Credit Company, Inc. (NASDAQ: OCCI) announced its net asset value (NAV) estimate as of September 30, 2022, ranging from $9.94 to $10.04 per share. This estimate is preliminary and unaudited, subject to significant changes. The company cautions that its financial condition could be adversely affected by events such as the COVID-19 pandemic, inflation, and international conflicts. KPMG LLP has not provided assurance on this preliminary data. OFS Credit focuses on investing in collateralized loan obligations.
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OFS Credit Company, Inc. (NASDAQ: OCCI) announced its unaudited net asset value (NAV) estimate as of August 31, 2022, predicting a NAV per share between $11.09 and $11.19. This estimate is subject to change and does not represent a full financial statement. Potential factors impacting future financial conditions include the COVID-19 pandemic, fluctuating interest rates, and the Russia-Ukraine conflict. The preliminary data has not been audited by KPMG, which disclaims any assurance regarding the estimates provided.
OFS Credit Company, Inc. (NASDAQ: OCCI) reported a net investment income of $3.5 million or $0.42 per share for the quarter ending July 31, 2022, up from $3.1 million or $0.38 per share in the previous quarter. However, core net investment income fell to $4.5 million, down from $7.7 million, mainly due to rising interest rates impacting CLO structures. The company declared a quarterly distribution of $0.55 per share, with total cash distributions capped at 20%. As of July 31, 2022, the investment portfolio's fair value was $147.9 million, and net asset value per share dropped to $10.61.
OFS Credit Company (NASDAQ: OCCI) announced a quarterly distribution of $0.55 per share for common stock shareholders for the quarter ending October 31, 2022. The distribution will be allocated in cash or shares, with 20% in cash and 80% in stock. The declaration date was September 1, 2022, and the record date is September 13, 2022, with payments made on October 31, 2022. Management believes this distribution will strengthen the balance sheet and prepare the company for future investment opportunities.
OFS Credit Company (NASDAQ: OCCI) reported a preliminary net asset value (NAV) estimate for its common stock as of July 31, 2022, ranging from $10.56 to $10.66. This estimate is unaudited and subject to change, pending the monthly N-PORT report. The Company cautioned that external factors such as the COVID-19 pandemic, interest rate fluctuations, and the Russia-Ukraine conflict may adversely impact its financial condition and future operations. The press release also emphasizes that the preliminary data has not been audited by KPMG LLP.