OFS Credit Company Declares Common and Preferred Stock Distributions
Stockholder Friendly Amendment to Dividend Reinvestment Plan
Amended Dividend Reinvestment Plan
For stockholders participating in the Amended Dividend Reinvestment Plan, the number of shares to be issued to a stockholder in connection with any cash distribution will now 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 OFS Credit’s
Common Stock Distribution
The distribution for common stockholders will be paid in cash or shares of our common stock at the election of stockholders. The total amount of cash distributed to all stockholders will be limited to 20% of the total distribution to be paid, excluding any cash paid for fractional shares. The remainder of the distribution (approximately 80%) will be paid in the form of shares of our common stock. The number of shares of common stock comprising the stock portion will be determined by using the volume weighted average price per share on the Nasdaq Capital Market on the three business-day period of
Management believes that the cash and stock distribution will allow the Company to strengthen its balance sheet and be in position to capitalize on potential future investment opportunities.
The following schedule applies to the distribution for common stockholders of record on the close of business of the record date:
Declaration Date |
Record Date |
Payment Date |
Distribution Per Share |
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The amount, details and
Participants in the Company's dividend reinvestment plan will also receive an election form. The investment feature of the dividend reinvestment plan will be suspended for the common stock distribution payable in cash and common stock on
Stockholders who hold their shares through a bank, broker or nominee, or in “street name” will not receive an election form directly from the Company and should receive information regarding the election process from their bank, broker or nominee. Street name holders should contact their bank, broker or nominee for additional information.
Preferred Stock Distributions
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 |
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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 |
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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 |
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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:
Record Date |
Payable Date |
Distribution Per Share |
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About
Forward-Looking Statements
Statements in this press release regarding management’s future expectations, beliefs, intentions, goals, strategies, plans or prospects, including statements relating to: management’s beliefs that the cash and stock distribution will allow the Company to strengthen its balance sheet and be in position to capitalize on potential future investment opportunities, when there can be no assurance either will occur; the tax consequences of the distributions to stockholders; 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
1 Registration does not imply a certain level of skill or training.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230602005025/en/
INVESTOR RELATIONS:
646-652-8473
saltebrando@ofsmanagement.com
MEDIA RELATIONS:
212-397-1030
bill@mendelcommunications.com
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