Runway Growth Finance Corp. to Issue -- Dividend of $0.03 (NASDAQ:RWAY)

Runway Growth Finance Corp. (NASDAQ:RWAY - Get Free Report) declared a -- dividend on Thursday, March 20th, Wall Street Journal reports. Stockholders of record on Monday, March 31st will be paid a dividend of 0.03 per share on Monday, April 14th. This represents a dividend yield of 15.1%. The ex-dividend date is Monday, March 31st.

Runway Growth Finance has increased its dividend by an average of 85.7% annually over the last three years. Runway Growth Finance has a 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. Equities 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 Performance

NASDAQ:RWAY remained flat at $10.50 during mid-day trading on Tuesday. 178,437 shares of the company traded hands, compared to its average volume of 311,042. The firm has a market cap of $392.14 million, a P/E ratio of 10.10 and a beta of 0.59. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.36 and a quick ratio of 0.36. Runway Growth Finance has a 52-week low of $9.87 and a 52-week high of $13.50. The company has a fifty day simple moving average of $11.30 and a two-hundred day simple moving average of $10.76.

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

Remove Ads

Analyst Upgrades and Downgrades

RWAY has been the topic of a number of research analyst reports. Wells Fargo & Company raised their price target on Runway Growth Finance from $11.00 to $12.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. dropped their target price on shares of Runway Growth Finance from $11.00 to $10.50 and set a "neutral" rating on the stock 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, Runway Growth Finance has an average rating of "Hold" and a consensus target price of $11.65.

About Runway Growth Finance

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.