OFS Credit Company Declares Series F Preferred Stock Distributions

Rhea-AI Summary

OFS Credit Company (Nasdaq: OCCI), an investment company focused on CLO equity and debt securities, has announced monthly cash distributions for its 7.875% Series F Term Preferred Stock (Nasdaq: OCCIM) through January 31, 2025. The company's board of directors declared the following distribution schedule:

• October 2024: $0.15859375 per share (Record Date: October 21, Payment Date: October 31)
• November 2024: $0.1640625 per share (Record Date: November 19, Payment Date: November 29)
• December 2024: $0.1640625 per share (Record Date: December 20, Payment Date: December 31)
• January 2025: $0.1640625 per share (Record Date: January 21, Payment Date: January 31)

These distributions apply to preferred stockholders of record on the close of business of each specific record date.

Positive

• Consistent monthly cash distributions declared for Series F Preferred Stock through January 2025
• Stable distribution amount of $0.1640625 per share for three consecutive months (November 2024 to January 2025)

Negative

• None.

Insights

Financial Analyst

This announcement of monthly cash distributions for OFS Credit Company's Series F Preferred Stock is a routine update for preferred stockholders. The company has declared distributions through January 2025, providing predictable income for investors holding this security.

The distributions remain consistent at $0.1640625 per share for most months, with a slight variation in October 2024 at $0.15859375. This stability in payouts is typical for preferred stocks and reflects the company's commitment to maintaining its dividend policy.

For investors, this news offers visibility into future cash flows but doesn't significantly impact the company's overall financial position or strategy. It's worth noting that OFS Credit primarily invests in CLO equity and debt securities, which can be complex and volatile investments. The consistent preferred stock distributions suggest the company is managing its cash flows effectively to meet these obligations.

While this news is positive for preferred stockholders, it has implications for common stockholders or the company's broader investment performance. Investors should continue to monitor OFS Credit's underlying portfolio performance and market conditions in the CLO space for more impactful developments.

CHICAGO--(BUSINESS WIRE)-- 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 its board of directors declared monthly cash distributions for the Company’s 7.875% Series F Term Preferred Stock through January 31, 2025.

The following schedule applies to the 7.875% Series F Term Preferred Stock (Nasdaq: OCCIM) distributions for preferred stockholders of record on the close of business of each specific record date:

Month	Record Date	Payment Date	Cash Distribution Per Share
October 2024	October 21, 2024	October 31, 2024	$0.15859375
November 2024	November 19, 2024	November 29, 2024	$0.1640625
December 2024	December 20, 2024	December 31, 2024	$0.1640625
January 2025	January 21, 2025	January 31, 2025	$0.1640625

About OFS Credit Company, Inc.

OFS Credit is a non-diversified, externally managed closed-end management investment company. The Company’s primary investment objective is to generate current income, with a secondary objective to generate capital appreciation, which we seek to achieve primarily through investments 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, as well as elevated interest and inflation rates, the ongoing war between Russia and Ukraine, the escalated armed conflict in the Middle East, instability in the U.S. and international banking systems, uncertainties related to the 2024 U.S. presidential election and the risk of recession or a shutdown of U.S. government services and related 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.

OFS® and OFS Credit® are registered trademarks of Orchard First Source Asset Management, LLC.

OFS Capital Management™ is a trademark of Orchard First Source Asset Management, LLC.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241008258769/en/

INVESTOR RELATIONS:

Steve Altebrando

847-734-2085

investorrelations@ofscreditcompany.com

MEDIA RELATIONS:

Bill Mendel

212-397-1030

bill@mendelcommunications.com

Source: OFS Credit Company, Inc.

FAQ

What is the distribution amount for OFS Credit Company's Series F Preferred Stock in October 2024?

The distribution amount for OFS Credit Company's Series F Preferred Stock in October 2024 is $0.15859375 per share.

When is the record date for OCCI's Series F Preferred Stock distribution in December 2024?

The record date for OCCI's Series F Preferred Stock distribution in December 2024 is December 20, 2024.

What is the payment date for OFS Credit Company's January 2025 preferred stock distribution?

The payment date for OFS Credit Company's January 2025 preferred stock distribution is January 31, 2025.

How much is the monthly distribution for OCCI's Series F Preferred Stock from November 2024 to January 2025?

The monthly distribution for OCCI's Series F Preferred Stock from November 2024 to January 2025 is $0.1640625 per share.