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OFS Capital Corporation Announces First Quarter 2023 Financial Results
Declares Second Quarter Distribution of $0.33 Per Share CHICAGO--(BUSINESS WIRE)-- OFS Capital Corporation (NASDAQ: OFS) (“OFS Capital,” the “Company,” “we,”
About this update from Ofs Capital Corporation
[{"type":"text","content":"\nDeclares Second Quarter Distribution of $0.33 Per Share\n\n\n CHICAGO--(BUSINESS WIRE)--\nOFS Capital Corporation (NASDAQ: OFS) (“OFS Capital,” the “Company,” “we,” “us,” or “our”) today announced its financial results for the fiscal quarter ended March 31, 2023.\n\n\nFIRST QUARTER FINANCIAL HIGHLIGHTS\n\n\n\nNet investment income of $0.37 per common share for the quarter ended March 31, 2023, an increase from $0.35 per common share for the quarter ended December 31, 2022.\n\n\n\nNet loss on investments of $0.09 per common share, primarily comprised of unrealized losses; there were no new non-accrual loans.\n\n\n\nNet asset value (“NAV”) per common share decreased from $13.47 at December 31, 2022 to $13.42 at March 31, 2023.\n\n\n\nAs of March 31, 2023, based on fair value, 94% of our loan portfolio consisted of floating rate loans and approximately 99% of our loan portfolio consisted of senior secured loans.\n\n\n\nFor the quarter ended March 31, 2023, the investment portfolio’s weighted-average performing income yield increased to 13.0% from 12.7% during the prior quarter.\n\n\n\nOn March 31, 2023, we paid a quarterly distribution of $0.33 per common share and on May 2, 2023, our Board of Directors declared a distribution of $0.33 per common share for the second quarter of 2023, payable on June 30, 2023 to stockholders of record as of June 23, 2023.\n\n\n\n\n\nSELECTED FINANCIAL HIGHLIGHTS (unaudited)\n\n\n\n\n\n\nQuarter Ended\n\n\n\n\n\n\n\n\n(Per common share)\n\n\n\n\n\n\nMarch 31, 2023\n\n\n\n\n\n\n \n\n\n\n\n\n\nDecember 31, 2022\n\n\n\n\n\n\n\n\nNet Investment Income\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nNet investment income\n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.37\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.35\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nNet Realized/Unrealized Gain (Loss)\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nNet realized loss on investments(1)\n\n\n\n\n\n\n$\n\n\n\n\n\n\n—\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n(0.09\n\n\n\n\n\n\n)\n\n\n\n\n\n\n\n\nNet unrealized loss on investments\n\n\n\n\n\n\n \n\n\n\n\n\n\n(0.09\n\n\n\n\n\n\n)\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n(0.08\n\n\n\n\n\n\n)\n\n\n\n\n\n\n\n\nNet loss on investments\n\n\n\n\n\n\n$\n\n\n\n\n\n\n(0.09\n\n\n\...