Runway Growth Finance Corp. Declares Quarterly Dividend of $0.40 (NASDAQ:RWAY)

Runway Growth Finance Corp. (NASDAQ:RWAY) announced a quarterly dividend on Tuesday, November 5th, Zacks reports. Shareholders of record on Monday, November 18th will be paid a dividend of 0.40 per share on Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 15.38%. The ex-dividend date is Monday, November 18th.

Runway Growth Finance has a payout ratio of 98.2% 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 $1.64 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 97.6%.

Runway Growth Finance Stock Up 4.1 %

Shares of NASDAQ:RWAY traded up $0.41 during trading on Thursday, reaching $10.40. 384,536 shares of the company traded hands, compared to its average volume of 320,274. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 1.08. Runway Growth Finance has a 1-year low of $9.87 and a 1-year high of $13.74. The firm has a fifty day simple moving average of $10.35 and a 200 day simple moving average of $11.24. The firm has a market cap of $400.92 million, a P/E ratio of 13.68 and a beta of 0.58.

Runway Growth Finance (NASDAQ:RWAY) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.06). Runway Growth Finance had a net margin of 19.32% and a return on equity of 13.67%. The business had revenue of $34.19 million during the quarter, compared to analyst estimates of $37.62 million. During the same period in the previous year, the firm posted $0.49 EPS. Analysts anticipate that Runway Growth Finance will post 1.72 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on RWAY shares. JPMorgan Chase & Co. cut their target price on shares of Runway Growth Finance from $12.50 to $11.50 and set a “neutral” rating for the company in a research report on Monday, July 29th. Compass Point raised shares of Runway Growth Finance from a “neutral” rating to a “buy” rating and cut their target price for the stock from $12.75 to $11.25 in a research report on Thursday, August 15th. Finally, Wells Fargo & Company cut their target price on shares of Runway Growth Finance from $11.00 to $10.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $11.79.

Insider Transactions at Runway Growth Finance

In other Runway Growth Finance news, CEO R David Spreng bought 5,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were acquired at an average price of $10.17 per share, with a total value of $50,850.00. Following the completion of the purchase, the chief executive officer now directly owns 69,532 shares in the company, valued at $707,140.44. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.46% of the company’s stock.

About Runway Growth Finance

Runway Growth Finance Corp. is a business development company specializing investments in senior-secured loans to late stage and growth companies. It prefers to make investments in companies engaged in the technology, life sciences, healthcare and information services, business services and select consumer services and products sectors.