CLO owner OFS Credit Company (OCCI) has posted a new investor presentation.
OCCI has 2 term preferreds outstanding which can be seen here.
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4/23/2024
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OCCI authorizes repurchases of up to $10m of preferreds OCCIN and OCCIO.
https://materials.proxyvote.com/Approved/67111Q/20221206/SHLTR_522756.PDF
(Apologies if this was already mentioned elsewhere.)
PLEASE be very careful with OFS Credit Company, Inc:
This is a (CLO) Collateralized Loan Obligation Company these are extremely difficult to understand and at the top of any investment risk chart
Market Cap of just $82.62 million
Yearly revenue of just $26.22 million (my companies do more revenue in my retirement)
Operating Cash Flow NEGATIVE -$14.6 million
Net Income NEGATIVE-$13.59 million
Quarterly earnings “growth” NEGATIVE -98.00%
Equity the last 52 weeks NEGATIVE -31.25% verses S&P 500 NEGATIVE-15.67%
Please do your own deep due diligence as I am just someone behind a computer and may or may not have your best “interest” in mind.
Never let the odds keep you from doing what you know in your heart you were meant to do, I am Azure
OCCI announcing they’re buying back up to $10M Series C and Series E preferred shares on the open market in 2023 is certainly good news for retail investors. I own a slug of OCCIO and appreciate the price support from the parent company.
Can someone tell me where to get an app or a program that will calculate yield to call % ?
Do you have Excel? If yes, you could try this. https://smallbusiness.chron.com/use-excel-calculate-bonds-yield-call-38210.html
Thanks Tim
Tim, just a quick look at the presentation and I saw they limit the payout of the dividend on the common to 20% cash and the balance in common stock. Does the same apply to the preferred?
Charles–no it does not.