OFS Credit Company Declares Monthly All-Cash Common Stock Distributions for Each of the Three Months in the Quarter Ending January 31, 2024
OFS Credit Company, Inc. (NASDAQ: OCCI) (“OFS Credit,” the “Company,” “we,” “us” or “our”), an investment company that primarily invests in collateralized loan obligation (“CLO”) equity and debt securities, today announced that, on November 28, 2023, its board of directors (the “Board”) declared monthly all-cash distributions for common stockholders for each of the three months in the quarter ending January 31, 2024.
The following schedule applies to the distributions for common stockholders of record on the close of business of each specific record date:
Month |
Record Date |
Payment Date |
Cash Distribution Amount |
November 2023 |
December 22, 2023 |
December 29, 2023 |
$0.10 |
December 2023 |
December 22, 2023 |
December 29, 2023 |
$0.10 |
January 2024 |
January 24, 2024 |
January 31, 2024 |
$0.10 |
The monthly distribution rate of $0.10 per common share equates to an approximate 19.4% annualized distribution rate based on closing price of the Company’s common stock of $6.18 on the Nasdaq Capital Market on October 31, 2023. Our Board intends to declare future distributions in cash, payable monthly.
“We believe our previous cash and stock distributions enabled us to strengthen our balance sheet by preserving capital,” said Bilal Rashid, Chief Executive Officer. “We believe the current strength of our balance sheet allows us to convert to an all-cash distribution.”
Dividend Reinvestment Plan – DRIP Shares Issued at 95% of Market Price
Lesen Sie auch
On June 1, 2023, our Board approved an amended and restated dividend reinvestment plan (the “Amended DRIP”). For stockholders participating in the Amended DRIP, the number of shares to be issued to a stockholder in connection with any distribution will be determined by dividing the total dollar amount of the distribution payable to such stockholder by an amount equal to ninety five percent (95%) of the market price per share of common stock at the close of regular trading on the Nasdaq Capital Market on the valuation date fixed by the Board for such distribution.