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OFS Capital Corporation Announces Second Quarter 2023 Financial Results
Third Quarter Distribution Increased to $0.34 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":"\nThird Quarter Distribution Increased to $0.34 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 June 30, 2023.\n\n\nSECOND QUARTER FINANCIAL HIGHLIGHTS\n\n\n\nNet investment income of $0.38 per common share for the quarter ended June 30, 2023, an increase from $0.37 per common share for the quarter ended March 31, 2023.\n\n\n\nNet loss on investments of $0.53 per common share; no new non-accrual loans during the quarter.\n\n\n\nNet asset value (“NAV”) per common share of $12.94, as of June 30, 2023.\n\n\n\nAs of June 30, 2023, based on fair value, 95% 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 June 30, 2023, the investment portfolio’s weighted-average performing income yield increased to 13.8% from 13.0% during the prior quarter.\n\n\n\nOn June 30, 2023, we paid a quarterly distribution of $0.33 per common share, and, on August 1, 2023, our Board of Directors declared a distribution of $0.34 per common share for the third quarter of 2023, a 3.0% increase compared to the prior quarter distribution, payable on September 29, 2023 to stockholders of record as of September 22, 2023.\n\n\n\n\n\nSELECTED FINANCIAL HIGHLIGHTS (unaudited)\n\n\n\n\n\n\nThree Months Ended\n\n\n\n\n\n\n\n\n(Per common share)\n\n\n\n\n\n\nJune 30, 2023\n\n\n\n\n\n\n \n\n\n\n\n\n\nMarch 31, 2023\n\n\n\n\n\n\n\n\nNet Investment Income\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nNet investment income\n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.38\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.37\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nNet Realized/Unrealized Gain (Loss)\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nNet realized loss on investments(1)\n\n\n\n\n\n\n$\n\n\n\n\n\n\n(0.78\n\n\n\n\n\n\n)\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n—\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nNet unrealized appreciation (depreciation) on investments\n\n\n\n\n\n\n \n\n\n\n\n\n\n0.25\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n(0.09\n\n\n\n\n\n\n)\n\n\n\n\n\n\n\n\nNet loss on investments\n\n\n\n\n\n\n$\n\n\n\n\n...