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OFS Capital Corporation Announces Third Quarter 2023 Financial Results
Declares Fourth Quarter Distribution of $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":"\nDeclares Fourth 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 September 30, 2023.\n\n\nTHIRD QUARTER FINANCIAL HIGHLIGHTS\n\n\n\nNet investment income increased to $0.40 per common share for the quarter ended September 30, 2023 from $0.38 per common share for the quarter ended June 30, 2023.\n\n\n\nNet loss on investments of $0.25 per common share for the quarter ended September 30, 2023, primarily comprised of net unrealized depreciation.\n\n\n\nNet asset value (“NAV”) per common share of $12.74, as of September 30, 2023.\n\n\n\nAs of September 30, 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 September 30, 2023, the investment portfolio’s weighted-average performing income yield increased to 14.6% from 13.8% during the prior quarter, primarily due to non-recurring interest income.\n\n\n\nOTHER RECENT EVENTS\n\n\n\nOn October 31, 2023, our Board of Directors declared a distribution of $0.34 per common share for the fourth quarter of 2023, payable on December 29, 2023 to stockholders of record as of December 22, 2023.\n\n\n\n\n\nSELECTED FINANCIAL HIGHLIGHTS (unaudited)\n\n\n\n\n\n\nThree Months Ended\n\n\n\n\n\n\n\n\n(Per common share)\n\n\n\n\n\n\nSeptember 30, 2023\n\n\n\n\n\n\n \n\n\n\n\n\n\nJune 30, 2023\n\n\n\n\n\n\n\n\nNet Investment Income\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nNet investment income\n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.40\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.38\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nNet Realized/Unrealized Gain (Loss)\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nNet realized gain (loss) on investments, net of taxes\n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.01\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(0.78\n\n\n\n\n\n\n)\n\n\n\n\n\n\n\n\nNet unrealized appreciation (depreciation) on investments, net of taxes\n\n\n\n\n\n\n \n\n\n\n\n\n\n(0.26\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\n0.25\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nLoss on ...