Fidus Investment Co. (FDUS) To Go Ex-Dividend on March 21st

Fidus Investment Co. (NASDAQ:FDUS – Get Rating) announced a quarterly dividend on Wednesday, February 15th, Zacks reports. Investors of record on Wednesday, March 22nd will be paid a dividend of 0.51 per share by the asset manager on Wednesday, March 29th. This represents a $2.04 dividend on an annualized basis and a yield of 10.60%. The ex-dividend date of this dividend is Tuesday, March 21st. This is an increase from Fidus Investment’s previous quarterly dividend of $0.36.

Fidus Investment has decreased its dividend by an average of 2.6% annually over the last three years and has increased its dividend every year for the last 3 years. Fidus Investment has a dividend payout ratio of 80.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Fidus Investment to earn $2.07 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 79.2%.

Fidus Investment Price Performance

FDUS opened at $19.25 on Friday. Fidus Investment has a 12 month low of $16.40 and a 12 month high of $21.25. The stock has a market capitalization of $478.17 million, a P/E ratio of 13.10 and a beta of 1.50. The business has a 50 day simple moving average of $20.23 and a 200-day simple moving average of $19.37.

Hedge Funds Weigh In On Fidus Investment

Several hedge funds have recently added to or reduced their stakes in the business. Natixis grew its position in shares of Fidus Investment by 3.2% in the fourth quarter. Natixis now owns 16,664 shares of the asset manager’s stock valued at $317,000 after purchasing an additional 519 shares during the last quarter. LPL Financial LLC grew its holdings in Fidus Investment by 3.5% during the 2nd quarter. LPL Financial LLC now owns 34,118 shares of the asset manager’s stock valued at $595,000 after buying an additional 1,169 shares during the last quarter. UBS Group AG increased its position in Fidus Investment by 2.1% during the first quarter. UBS Group AG now owns 58,952 shares of the asset manager’s stock worth $1,189,000 after buying an additional 1,219 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Fidus Investment by 9.0% in the second quarter. Envestnet Asset Management Inc. now owns 19,082 shares of the asset manager’s stock worth $333,000 after acquiring an additional 1,577 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC raised its holdings in shares of Fidus Investment by 9.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 19,401 shares of the asset manager’s stock worth $369,000 after acquiring an additional 1,695 shares during the last quarter. 18.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on FDUS. B. Riley boosted their target price on shares of Fidus Investment from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, March 6th. Keefe, Bruyette & Woods decreased their price objective on shares of Fidus Investment from $20.50 to $20.00 and set a “market perform” rating on the stock in a report on Monday, March 6th. Finally, StockNews.com began coverage on shares of Fidus Investment in a report on Thursday. They issued a “hold” rating for the company.

Fidus Investment Company Profile

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Fidus Investment Corporation is a business development company specializing in leveraged buyouts, refinancings, change of ownership transactions, recapitalizations, strategic acquisitions, mezzanine, growth capital, business expansion, lower middle market investments, debt investments, subordinated and second lien loans, senior secured and unitranche debt, preferred equity, warrants, subordinated debt, senior subordinated notes, junior secured loans, and unitranche loans.