OFS Credit Company Declares Preferred Stock Distributions

Rhea-AI Summary

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.

Positive

• Declared monthly cash distributions for Series A, B, C, and D preferred stocks.
• Series A distribution of $0.1432292 per share is attractive for investors.
• Company maintains a focus on current income generation from CLO investments.

Negative

• None.

OFS Credit Company (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 August 5, 2021 its Board of Directors declared monthly cash distributions on the Company’s 6.875% Series A Term Preferred Stock, 6.60% Series B Term Preferred Stock, 6.125% Series C Term Preferred Stock and 6.00% Series D Term Preferred Stock for the six months ending January 31, 2022.

The following schedule applies to the 6.875% Series A Term Preferred Stock distributions for preferred stockholders of record on the close of business of each specific Record Date:

	Record Date			Payable Date			Distribution Per Share
	August 24, 2021			August 31, 2021			$0.1432292
	September 23, 2021			September 30, 2021			$0.1432292
	October 22, 2021			October 29, 2021			$0.1432292
	November 23, 2021			November 30, 2021			$0.1432292
	December 24, 2021			December 31, 2021			$0.1432292
	January 24, 2022			January 31, 2022			$0.1432292

The following schedule applies to the 6.60% Series B Term Preferred Stock distributions for preferred stockholders of record on the close of business of each specific Record Date:

	Record Date			Payable Date			Distribution Per Share
	August 24, 2021			August 31, 2021			$0.1375
	September 23, 2021			September 30, 2021			$0.1375
	October 22, 2021			October 29, 2021			$0.1375
	November 23, 2021			November 30, 2021			$0.1375
	December 24, 2021			December 31, 2021			$0.1375
	January 24, 2022			January 31, 2022			$0.1375

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:

	Record Date			Payable Date			Distribution Per Share
	August 24, 2021			August 31, 2021			$0.1276042
	September 23, 2021			September 30, 2021			$0.1276042
	October 22, 2021			October 29, 2021			$0.1276042
	November 23, 2021			November 30, 2021			$0.1276042
	December 24, 2021			December 31, 2021			$0.1276042
	January 24, 2022			January 31, 2022			$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:

	Record Date			Payable Date			Distribution Per Share
	August 24, 2021			August 31, 2021			$0.125
	September 23, 2021			September 30, 2021			$0.125
	October 22, 2021			October 29, 2021			$0.125
	November 23, 2021			November 30, 2021			$0.125
	December 24, 2021			December 31, 2021			$0.125
	January 24, 2022			January 31, 2022			$0.125

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, Illinois with additional offices in New York and Los Angeles.

Forward-Looking Statements

Statements in this press release regarding management's future expectations, beliefs, intentions, goals, strategies, plans or prospects, and other factors may constitute forward-looking statements. 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, as well as the impact of the global COVID-19 pandemic 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210806005063/en/

FAQ

What is the cash distribution schedule for the Series A Term Preferred Stock of OCCI?

The Series A Term Preferred Stock will distribute $0.1432292 per share on record dates from August 24, 2021, to January 24, 2022.

When are the payable dates for OCCI's preferred stocks?

The payable dates for the preferred stocks range from August 31, 2021, to January 31, 2022, depending on the series.

What are the distribution amounts for Series B, C, and D Term Preferred Stocks of OCCI?

Series B will distribute $0.1375, Series C will distribute $0.1276042, and Series D will distribute $0.125 per share.

What is OFS Credit Company's investment strategy?

OFS Credit focuses on generating current income and capital appreciation primarily through CLO equity and debt investments.