OFS Credit Company Declares Monthly Cash Distributions on Common and Preferred Stock
02 Febrero 2024 - 7:00AM
Business Wire
Amended Dividend Reinvestment Plan Permits DRIP
Shares to be Issued at 95% of Market Price
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 February 1, 2024, its
board of directors (the “Board”) declared monthly cash
distributions for common stockholders for each of the three months
in the quarter ending April 30, 2024. The Board has also declared
monthly cash distributions for the Company’s 6.125% Series C Term
Preferred Stock, 6.00% Series D Term Preferred Stock and 5.25%
Series E Term Preferred Stock through July 31, 2024.
Common Stock Distributions
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 Per
Share
February 2024
February 19, 2024
February 29, 2024
$0.10
March 2024
March 19, 2024
March 29, 2024
$0.10
April 2024
April 19, 2024
April 30, 2024
$0.10
Dividend Reinvestment Plan (“DRIP”) – DRIP Shares Issued at 95%
of Market Price
On June 1, 2023, our Board adopted a change to our DRIP so that
common stockholders may receive their distribution in shares based
on 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 (i.e., the payment
date), providing a 5% discount to the market price.
Common stockholders that are interested in participating in our
DRIP should contact their broker or financial intermediary.
Additional information about our DRIP and how to participate can
be found at
https://ir.ofscreditcompany.com/shareholder-services/dividend-reinvestment-plan.
We make our website content available for informational purposes
only. It should not be relied upon for investment purposes, nor is
it incorporated by reference into this press release.
Preferred Stock Distributions
The following schedule applies to the 6.125% Series C Term
Preferred Stock distributions for preferred stockholders of record
on the close of business of each specific record date:
Month
Record Date
Payable Date
Cash Distribution Per
Share
February 2024
February 19, 2024
February 29, 2024
$0.1276042
March 2024
March 19, 2024
March 29, 2024
$0.1276042
April 2024
April 19, 2024
April 30, 2024
$0.1276042
May 2024
May 21, 2024
May 31, 2024
$0.1276042
June 2024
June 18, 2024
June 28, 2024
$0.1276042
July 2024
July 19, 2024
July 31, 2024
$0.1276042
The following schedule applies to the 6.00% Series D Term
Preferred Stock distributions for preferred stockholders of record
on the close of business of each specific record date:
Month
Record Date
Payable Date
Cash Distribution Per
Share
February 2024
February 19, 2024
February 29, 2024
$0.125
March 2024
March 19, 2024
March 29, 2024
$0.125
April 2024
April 19, 2024
April 30, 2024
$0.125
May 2024
May 21, 2024
May 31, 2024
$0.125
June 2024
June 18, 2024
June 28, 2024
$0.125
July 2024
July 19, 2024
July 31, 2024
$0.125
The following schedule applies to the 5.25% Series E Term
Preferred Stock distributions for preferred stockholders of record
on the close of business of each specific record date:
Month
Record Date
Payable Date
Cash Distribution Per
Share
February 2024
February 19, 2024
February 29, 2024
$0.109375
March 2024
March 19, 2024
March 29, 2024
$0.109375
April 2024
April 19, 2024
April 30, 2024
$0.109375
May 2024
May 21, 2024
May 31, 2024
$0.109375
June 2024
June 18, 2024
June 28, 2024
$0.109375
July 2024
July 19, 2024
July 31, 2024
$0.109375
About OFS Credit Company, Inc.
OFS Credit is a non-diversified, externally managed closed-end
management investment company. The Company’s investment objective
is to generate current income, with a secondary objective to
generate capital appreciation primarily through investment in CLO
equity and debt securities. The Company’s investment activities are
managed by OFS Capital Management, LLC, an investment adviser
registered under the Investment Advisers Act of 19401, as amended,
and headquartered in Chicago with additional offices in New York
and Los Angeles.
Forward-Looking Statements
Statements in this press release may constitute “forward-looking
statements” regarding management’s future expectations, beliefs,
intentions, goals, strategies, plans or prospects. Forward-looking
statements can be identified by terminology such as “anticipate,”
“believe,” “could,” “could increase the likelihood,” “estimate,”
“expect,” “intend,” “is planned,” “may,” “should,” “will,” “will
enable,” “would be expected,” “look forward,” “may provide,”
“would” or similar terms, variations of such terms or the negative
of those terms. Such forward-looking statements involve known and
unknown risks, uncertainties and other factors including those
risks, uncertainties and factors referred to in documents that may
be filed by OFS Credit from time to time with the Securities and
Exchange Commission, elevated interest and inflation rates, the
ongoing war between Russia and Ukraine, the current conflict in
Israel, instability in the U.S. and international banking systems,
the risk of recession or a shutdown of U.S. government services and
significant market volatility on our business, our portfolio
companies, our industry and the global economy. As a result of such
risks, uncertainties and factors, actual results may differ
materially from any future results, performance or achievements
discussed in or implied by the forward-looking statements contained
herein. OFS Credit is providing the information in this press
release as of this date and assumes no obligations to update the
information included in this press release or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
1 Registration does not imply a certain level of skill or
training.
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version on businesswire.com: https://www.businesswire.com/news/home/20240202943593/en/
INVESTOR RELATIONS: Steve Altebrando 646-652-8473
saltebrando@ofsmanagement.com
MEDIA RELATIONS: Bill Mendel 212-397-1030
bill@mendelcommunications.com
OFS Credit (NASDAQ:OCCI)
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