WhiteHorse Finance, Inc. (WHF) to Issue Quarterly Dividend of $0.39 on July 3rd

WhiteHorse Finance, Inc. (NASDAQ:WHF) announced a quarterly dividend on Tuesday, May 13th, Wall Street Journal reports. Investors of record on Thursday, June 19th will be given a dividend of 0.385 per share by the investment management company on Thursday, July 3rd. This represents a $1.54 dividend on an annualized basis and a dividend yield of 16.89%. The ex-dividend date is Wednesday, June 18th.

WhiteHorse Finance has increased its dividend payment by an average of 4.3% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. WhiteHorse Finance has a dividend payout ratio of 122.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect WhiteHorse Finance to earn $1.46 per share next year, which means the company may not be able to cover its $1.54 annual dividend with an expected future payout ratio of 105.5%.

WhiteHorse Finance Stock Down 1.7%

WHF stock opened at $9.12 on Thursday. The company has a market cap of $211.98 million, a price-to-earnings ratio of 20.27 and a beta of 0.84. WhiteHorse Finance has a twelve month low of $8.44 and a twelve month high of $13.44. The business has a 50 day moving average price of $9.53 and a two-hundred day moving average price of $10.18. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.19.

WhiteHorse Finance (NASDAQ:WHF) last posted its quarterly earnings results on Monday, May 12th. The investment management company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.04). WhiteHorse Finance had a return on equity of 12.86% and a net margin of 10.65%. The firm had revenue of $18.80 million for the quarter, compared to the consensus estimate of $19.98 million. Analysts anticipate that WhiteHorse Finance will post 1.66 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. lowered their price target on WhiteHorse Finance from $9.50 to $9.00 and set an “underweight” rating on the stock in a research report on Monday, March 10th.

Insider Activity at WhiteHorse Finance

In other news, Director John Bolduc bought 22,360 shares of the firm’s stock in a transaction on Tuesday, April 8th. The shares were purchased at an average cost of $8.94 per share, with a total value of $199,898.40. Following the acquisition, the director now directly owns 237,885 shares in the company, valued at $2,126,691.90. This represents a 10.37% 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 hyperlink. 2.30% of the stock is currently owned by corporate insiders.

About WhiteHorse Finance

WhiteHorse Finance, Inc is business development company, non-diversified, closed end management company specializing in originating senior secured loans, lower middle market, growth capital industries. It invests in broadline retail, office services and supplies, building products, health care services, health care supplies, research and consulting services, application software, home furnishings, specialized consumer services, data processing and outsourced services, leisure facilities, cable, and satellite.