Silver Spike Investment Corp. (NASDAQ:SSIC) Announces $0.25 Quarterly Dividend

Silver Spike Investment Corp. (NASDAQ:SSIC) announced a quarterly dividend on Thursday, August 8th, Zacks reports. Stockholders of record on Thursday, September 19th will be paid a dividend of 0.25 per share on Friday, September 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.57%. The ex-dividend date of this dividend is Thursday, September 19th.

Silver Spike Investment has a dividend payout ratio of 101.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Silver Spike Investment Stock Performance

NASDAQ:SSIC opened at $11.67 on Tuesday. The stock’s 50-day simple moving average is $11.66 and its 200 day simple moving average is $11.14. The company has a market cap of $72.53 million, a P/E ratio of 13.41 and a beta of 0.28. Silver Spike Investment has a 52-week low of $7.29 and a 52-week high of $12.45.

Silver Spike Investment (NASDAQ:SSIC) last released its earnings results on Thursday, August 8th. The company reported $0.25 earnings per share (EPS) for the quarter. The business had revenue of $3.08 million for the quarter, compared to the consensus estimate of $2.50 million. Silver Spike Investment had a return on equity of 5.62% and a net margin of 44.96%.

Silver Spike Investment Company Profile

Silver Spike Investment Corp., is a a business development company. It is a specialty finance company, focuses on investing across the cannabis ecosystem through investments in the form of direct loans to, and equity ownership of, privately held cannabis companies. It intends to partner with private equity firms, entrepreneurs, business owners, and management teams to provide credit and equity financing alternatives to support buyouts, recapitalizations, growth initiatives, refinancings, and acquisitions across cannabis companies, including cannabis-enabling technology companies, cannabis-related health and wellness companies, and hemp and CBD distribution companies.