Runway Growth Finance Corp. (NASDAQ:RWAY – Get Free Report) declared a quarterly dividend on Wednesday, November 4th. Investors of record on Tuesday, November 17th will be paid a dividend of $0.33 per share on Thursday, December 3rd. This represents a $1.32 dividend on an annualized basis and a yield of 21.6%. The ex-dividend date is Tuesday, November 17th.
Runway Growth Finance has a payout ratio of 85.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Runway Growth Finance to earn $1.30 per share next year, which means the company may not be able to cover its $1.32 annual dividend with an expected future payout ratio of 101.5%.
Runway Growth Finance Stock Down 6.7%
Shares of NASDAQ:RWAY opened at $6.12 on Friday. The company has a 50 day moving average price of $6.53 and a two-hundred day moving average price of $6.74. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market capitalization of $256.49 million, a PE ratio of 55.64 and a beta of 0.70. Runway Growth Finance has a 52 week low of $5.19 and a 52 week high of $10.06.
Runway Growth Finance (NASDAQ:RWAY – Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. The company had revenue of $40.56 million for the quarter, compared to analysts’ expectations of $37.73 million. Runway Growth Finance had a net margin of 5.82% and a return on equity of 11.73%. Analysts forecast that Runway Growth Finance will post 1.39 earnings per share for the current year.
About Runway Growth Finance
Runway Growth Finance Corp. is a business development company (BDC) that provides financing to growth-oriented companies, primarily in the technology, life sciences, healthcare, products and services sectors. The company seeks to support businesses that may have limited access to traditional bank financing or require capital to fund expansion, acquisitions, product development and other strategic initiatives.
Its investment activity is centered on senior secured loans, including term loans and other structured debt investments.
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