Runway Growth Finance Corp. Plans Quarterly Dividend of $0.40 (NASDAQ:RWAY)

Runway Growth Finance Corp. (NASDAQ:RWAY - Get Free Report) declared a quarterly dividend on Tuesday, November 5th,Zacks Dividends reports. Investors of record on Monday, November 18th will be paid a dividend of 0.40 per share on Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 15.37%. The ex-dividend date of this dividend is Monday, November 18th.

Runway Growth Finance has a dividend payout ratio of 98.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall. Equities analysts expect Runway Growth Finance to earn $1.64 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 97.6%.

Runway Growth Finance Stock Performance

RWAY traded up $0.01 on Thursday, reaching $10.41. The company had a trading volume of 222,379 shares, compared to its average volume of 319,820. Runway Growth Finance has a fifty-two week low of $9.87 and a fifty-two week high of $13.74. The stock has a market cap of $401.31 million, a P/E ratio of 13.68 and a beta of 0.58. The company's fifty day moving average is $10.35 and its 200 day moving average is $11.24. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.63 and a current ratio of 0.63.

Runway Growth Finance (NASDAQ:RWAY - Get Free Report) last announced its earnings results on Thursday, August 8th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.06). Runway Growth Finance had a return on equity of 13.67% and a net margin of 19.32%. The business had revenue of $34.19 million for the quarter, compared to analyst estimates of $37.62 million. During the same quarter in the previous year, the company earned $0.49 EPS. As a group, analysts predict that Runway Growth Finance will post 1.72 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on RWAY shares. JPMorgan Chase & Co. decreased their target price on shares of Runway Growth Finance from $12.50 to $11.50 and set a "neutral" rating on the stock in a research report on Monday, July 29th. Compass Point upgraded shares of Runway Growth Finance from a "neutral" rating to a "buy" rating and reduced their price target for the stock from $12.75 to $11.25 in a research report on Thursday, August 15th. Finally, Wells Fargo & Company reduced their price target on shares of Runway Growth Finance from $11.00 to $10.00 and set an "equal weight" rating on the stock in a research report on Tuesday, October 29th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Runway Growth Finance has an average rating of "Hold" and an average target price of $11.79.

Insider Activity at Runway Growth Finance

In related news, CEO R David Spreng acquired 5,000 shares of the company's stock in a transaction that occurred on Wednesday, August 14th. The stock was acquired at an average price of $10.17 per share, with a total value of $50,850.00. Following the purchase, the chief executive officer now directly owns 69,532 shares in the company, valued at approximately $707,140.44. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.46% of the stock is owned by insiders.

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.