Runway Growth Finance Corp. Announces — Dividend of $0.03 (NASDAQ:RWAY)

Runway Growth Finance Corp. (NASDAQ:RWAY) declared a — dividend on Friday, March 21st, Wall Street Journal reports. Shareholders of record on Monday, March 31st will be given a dividend of 0.03 per share on Monday, April 14th. This represents a yield of 15.1%. The ex-dividend date is Monday, March 31st.

Runway Growth Finance has increased its dividend payment by an average of 85.7% per year over the last three years. Runway Growth Finance has a dividend payout ratio of 98.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Runway Growth Finance to earn $1.59 per share next year, which means the company may not be able to cover its $1.60 annual dividend with an expected future payout ratio of 100.6%.

Runway Growth Finance Stock Down 1.1 %

Shares of Runway Growth Finance stock traded down $0.12 during trading on Friday, reaching $10.59. The company had a trading volume of 650,527 shares, compared to its average volume of 309,341. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.36 and a current ratio of 0.36. Runway Growth Finance has a fifty-two week low of $9.87 and a fifty-two week high of $13.50. The firm’s fifty day moving average is $11.31 and its 200-day moving average is $10.76. The company has a market cap of $395.32 million, a price-to-earnings ratio of 10.18 and a beta of 0.59.

Runway Growth Finance (NASDAQ:RWAY) last announced its quarterly earnings data on Thursday, March 20th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.03). The firm had revenue of $33.78 million for the quarter, compared to analyst estimates of $36.10 million. Runway Growth Finance had a net margin of 27.05% and a return on equity of 12.91%. On average, analysts anticipate that Runway Growth Finance will post 1.67 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wells Fargo & Company lifted their price objective on shares of Runway Growth Finance from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. decreased their price target on shares of Runway Growth Finance from $11.00 to $10.50 and set a “neutral” rating for the company in a report on Friday. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $11.65.

Runway Growth Finance Company Profile

Runway Growth Finance Corp. is a business development company specializing investments in senior-secured loans to late stage and growth companies. It prefers to make investments in companies engaged in the technology, life sciences, healthcare and information services, business services and select consumer services and products sectors.