Portman Ridge Finance Co. (NASDAQ:PTMN) Plans Quarterly Dividend of $0.69

Portman Ridge Finance Co. (NASDAQ:PTMN - Get Free Report) announced a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Stockholders of record on Tuesday, November 19th will be paid a dividend of 0.69 per share on Friday, November 29th. This represents a $2.76 annualized dividend and a dividend yield of 15.42%. The ex-dividend date of this dividend is Tuesday, November 19th.

Portman Ridge Finance has increased its dividend payment by an average of 4.6% annually over the last three years. Portman Ridge Finance has a dividend payout ratio of 99.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. Equities analysts expect Portman Ridge Finance to earn $2.86 per share next year, which means the company should continue to be able to cover its $2.76 annual dividend with an expected future payout ratio of 96.5%.

Portman Ridge Finance Price Performance

Shares of PTMN traded down $0.55 during mid-day trading on Friday, hitting $17.90. 143,808 shares of the stock were exchanged, compared to its average volume of 32,401. The firm has a 50-day moving average of $18.37 and a two-hundred day moving average of $19.05. Portman Ridge Finance has a 52-week low of $16.27 and a 52-week high of $20.84. The company has a market cap of $165.40 million, a PE ratio of 13.66 and a beta of 1.02. The company has a debt-to-equity ratio of 1.44, a quick ratio of 4.40 and a current ratio of 4.40.

Portman Ridge Finance (NASDAQ:PTMN - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.69 by $0.01. Portman Ridge Finance had a net margin of 18.14% and a return on equity of 14.86%. The business had revenue of $16.34 million during the quarter, compared to analysts' expectations of $16.68 million. During the same period last year, the company posted $0.83 EPS. On average, equities analysts predict that Portman Ridge Finance will post 2.74 earnings per share for the current year.

About Portman Ridge Finance

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.