Runway Growth Finance Corp. (NASDAQ:RWAY) Plans $0.03 — Dividend

Runway Growth Finance Corp. (NASDAQ:RWAY) announced a — dividend on Friday, March 21st, Wall Street Journal reports. Shareholders of record on Monday, March 31st will be given a dividend of 0.03 per share on Monday, April 14th. This represents a yield of 15.1%. The ex-dividend date of this dividend is Monday, March 31st.

Runway Growth Finance has increased its dividend by an average of 85.7% annually over the last three years. Runway Growth Finance has a dividend payout ratio of 98.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Runway Growth Finance to earn $1.59 per share next year, which means the company may not be able to cover its $1.60 annual dividend with an expected future payout ratio of 100.6%.

Runway Growth Finance Stock Performance

NASDAQ:RWAY opened at $10.59 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $395.50 million, a P/E ratio of 10.18 and a beta of 0.59. The firm has a 50-day moving average price of $11.31 and a two-hundred day moving average price of $10.76. Runway Growth Finance has a twelve month low of $9.87 and a twelve month high of $13.50.

Runway Growth Finance (NASDAQ:RWAY) last issued its quarterly earnings data on Thursday, March 20th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.03). The company had revenue of $33.78 million for the quarter, compared to analyst estimates of $36.10 million. Runway Growth Finance had a return on equity of 12.91% and a net margin of 27.05%. As a group, research analysts expect that Runway Growth Finance will post 1.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

RWAY has been the subject of several analyst reports. Wells Fargo & Company boosted their target price on shares of Runway Growth Finance from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. reduced their price objective on shares of Runway Growth Finance from $11.00 to $10.50 and set a “neutral” rating on the stock in a research note on Friday. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $11.65.

Runway Growth Finance Company Profile

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.