Portman Ridge Finance Co. (NASDAQ:PTMN - Get Free Report) declared a quarterly dividend on Friday, March 14th, Wall Street Journal reports. Stockholders of record on Monday, March 24th will be paid a dividend of 0.47 per share on Monday, March 31st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 12.17%. The ex-dividend date of this dividend is Monday, March 24th.
Portman Ridge Finance has raised its dividend by an average of 4.5% per year over the last three years. Portman Ridge Finance has a dividend payout ratio of 74.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Portman Ridge Finance to earn $2.66 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 70.7%.
Portman Ridge Finance Stock Performance
PTMN stock remained flat at $15.45 during mid-day trading on Tuesday. The company's stock had a trading volume of 56,007 shares, compared to its average volume of 45,267. The company has a market capitalization of $142.34 million, a P/E ratio of 41.76 and a beta of 1.02. The business's 50 day moving average price is $16.84 and its 200 day moving average price is $17.39. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.14 and a current ratio of 3.14. Portman Ridge Finance has a 1-year low of $15.16 and a 1-year high of $20.84.
Portman Ridge Finance (NASDAQ:PTMN - Get Free Report) last issued its earnings results on Thursday, March 13th. The company reported $0.60 earnings per share for the quarter, missing analysts' consensus estimates of $0.68 by ($0.08). The business had revenue of $14.40 million during the quarter, compared to the consensus estimate of $15.14 million. Portman Ridge Finance had a return on equity of 14.68% and a net margin of 5.47%. As a group, equities analysts expect that Portman Ridge Finance will post 2.64 EPS for the current fiscal year.
About Portman Ridge Finance
(
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Portman Ridge Finance Corporation is a business development company specializing in investments in unitranche loans (including last out), first lien loans, second lien loans, subordinated debt, equity co-investment, mezzanine, buyout in middle market companies. It also makes acquisitions in businesses complementary to the firm's business.
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