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

Runway Growth Finance Corp. (NASDAQ:RWAY) announced 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 dividend yield of 15.1%. The ex-dividend date is Monday, March 31st.

Runway Growth Finance has raised its dividend by an average of 85.7% annually 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 tumble. 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 1.0 %

RWAY stock opened at $10.59 on Friday. The business has a 50-day moving average of $11.31 and a 200-day moving average of $10.76. Runway Growth Finance has a fifty-two week low of $9.87 and a fifty-two week high of $13.50. The stock has a market capitalization of $395.50 million, a P/E ratio of 10.18 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 (NASDAQ:RWAY) last issued its quarterly earnings results on Thursday, March 20th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.03). The business had revenue of $33.78 million for the quarter, compared to the consensus estimate of $36.10 million. Runway Growth Finance had a return on equity of 12.91% and a net margin of 27.05%. On average, sell-side analysts anticipate that Runway Growth Finance will post 1.67 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on RWAY shares. JPMorgan Chase & Co. lowered their price target on shares of Runway Growth Finance from $11.00 to $10.50 and set a “neutral” rating on the stock in a research note on Friday. Wells Fargo & Company lifted their target price on Runway Growth Finance from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has a consensus 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.