OFS Capital Corporation Announces Second Quarter 2024 Financial Results

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[{"type":"text","content":"\nDeclares Third Quarter Distribution of $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, 2024.\n\n\nSECOND QUARTER FINANCIAL HIGHLIGHTS\n\n\n\nNet investment income decreased to $0.26 per common share for the quarter ended June 30, 2024 from $0.42 per common share for the quarter ended March 31, 2024.\n\n\n\nNet gain on investments of $0.51 per common share for the quarter ended June 30, 2024, primarily comprised of net unrealized appreciation of $0.83 per common share, partially offset by net realized losses of $0.32 per common share.\n\n\n\nNet asset value per common share increased to $11.51 as of June 30, 2024 from $11.08 as of March 31, 2024.\n\n\n\nAs of June 30, 2024, based on fair value, 92% of our loan portfolio consisted of floating rate loans and approximately 100% of our loan portfolio consisted of first lien and second lien loans.\n\n\n\nFor the quarter ended June 30, 2024, the investment portfolio’s weighted-average performing income yield increased to 13.4% from 13.0% during the prior quarter, primarily due to the acceleration of deferred fees from loan repayments.\n\n\n\nNo new loans were placed on non-accrual status during the second quarter. The number of issuers with loans on non-accrual status decreased by one from the prior quarter.\n\n\n\nOTHER RECENT EVENTS\n\n\n\nOn July 30, 2024, our Board of Directors declared a distribution of $0.34 per common share for the third quarter of 2024, payable on September 30, 2024 to stockholders of record as of September 20, 2024.\n\n\n\n\nSELECTED FINANCIAL HIGHLIGHTS (unaudited)\n\nThree Months Ended\n\n\n\n\n\n\n\n\n(Per common share)\n\n\n\n\n\n\nJune 30, 2024\n\n\n\n\n\n\n \n\n\n\n\n\n\nMarch 31, 2024\n\n\n\n\n\n\n\n\nNet Investment Income\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nNet investment income\n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.26\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.42\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nNet Realized/Unrealized Gain (Loss)\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nNet realized gain (loss) on investments, net of taxes\n\n\n\n\n\n\n$\n\n\n\n\n\n\n(0.32\n\n\n\n\n...

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