Logan Ridge Finance Co. (LRFC) To Go Ex-Dividend on May 19th

Logan Ridge Finance Co. (NASDAQ:LRFC) announced a quarterly dividend on Friday, May 9th, Wall Street Journal reports. Shareholders of record on Monday, May 19th will be given a dividend of 0.36 per share on Thursday, May 29th. This represents a $1.44 annualized dividend and a yield of 8.18%. The ex-dividend date is Monday, May 19th.

Logan Ridge Finance has a dividend payout ratio of 94.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Logan Ridge Finance to earn $1.45 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 91.0%.

Logan Ridge Finance Stock Performance

Logan Ridge Finance stock opened at $17.60 on Friday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.11. The stock has a 50 day moving average of $20.35 and a 200-day moving average of $23.26. The stock has a market cap of $46.75 million, a P/E ratio of -13.97 and a beta of 0.70. Logan Ridge Finance has a 52 week low of $17.30 and a 52 week high of $26.00.

Logan Ridge Finance (NASDAQ:LRFC) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). Logan Ridge Finance had a negative net margin of 16.43% and a positive return on equity of 3.69%. The company had revenue of $4.63 million for the quarter, compared to the consensus estimate of $5.20 million. On average, analysts expect that Logan Ridge Finance will post 1.37 EPS for the current fiscal year.

About Logan Ridge Finance

Logan Ridge Finance Corporation, formerly known as, Capitala Finance Corp. is a Business Development Company specializing in senior subordinated debt and unitranche debt, unitranche loan, first-lien and second-lien loans, lower middle market and middle market, equity co-investment in sponsored companies.