SLR Investment Corp. Declares Quarterly Dividend of $0.41 (NASDAQ:SLRC)

SLR Investment Corp. (NASDAQ:SLRC) declared a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Stockholders of record on Friday, December 13th will be given a dividend of 0.41 per share by the financial services provider on Friday, December 27th. This represents a $1.64 annualized dividend and a dividend yield of 10.31%. The ex-dividend date is Friday, December 13th.

SLR Investment has a payout ratio of 100.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect SLR Investment to earn $1.62 per share next year, which means the company may not be able to cover its $1.64 annual dividend with an expected future payout ratio of 101.2%.

SLR Investment Stock Up 3.3 %

Shares of SLRC opened at $15.90 on Friday. The stock has a 50 day moving average price of $15.30 and a 200 day moving average price of $15.66. SLR Investment has a one year low of $14.41 and a one year high of $16.77. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market capitalization of $867.50 million, a price-to-earnings ratio of 8.98 and a beta of 1.12.

SLR Investment (NASDAQ:SLRC) last released its earnings results on Wednesday, August 7th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The business had revenue of $58.98 million during the quarter, compared to analyst estimates of $58.23 million. SLR Investment had a net margin of 40.89% and a return on equity of 9.73%. During the same quarter in the prior year, the firm earned $0.42 earnings per share. Equities research analysts forecast that SLR Investment will post 1.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on SLRC shares. StockNews.com began coverage on shares of SLR Investment in a research note on Tuesday, July 23rd. They set a “hold” rating for the company. JPMorgan Chase & Co. lowered SLR Investment from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $15.50 to $15.00 in a research report on Monday, July 29th. Finally, Wells Fargo & Company reduced their price objective on SLR Investment from $13.00 to $12.50 and set an “underweight” rating on the stock in a research report on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat.com, SLR Investment presently has an average rating of “Hold” and an average target price of $15.13.

SLR Investment Company Profile

SLR Investment Corp. is a business development company specializing in secured debt (first lien unitranche and second lien), subordinated (unsecured) debt, minority equity, leveraged buyouts, acquisitions, recapitalizations, general refinancing, growth capital and strategic income-oriented control equity investments in leveraged middle market companies.