Logan Ridge Finance Co. (LRFC) To Go Ex-Dividend on May 20th

Logan Ridge Finance Co. (NASDAQ:LRFC) announced a quarterly dividend on Tuesday, May 7th, Zacks reports. Stockholders of record on Tuesday, May 21st will be paid a dividend of 0.33 per share on Friday, May 31st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.85%. The ex-dividend date of this dividend is Monday, May 20th. This is a boost from Logan Ridge Finance’s previous quarterly dividend of $0.32.

Logan Ridge Finance has decreased its dividend payment by an average of 13.8% annually over the last three years and has increased its dividend every year for the last 1 years. Logan Ridge Finance has a payout ratio of 94.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Logan Ridge Finance to earn $1.40 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 94.3%.

Logan Ridge Finance Stock Up 0.3 %

Shares of LRFC stock opened at $22.55 on Friday. The business has a 50-day moving average of $22.30 and a 200 day moving average of $22.33. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.12 and a current ratio of 0.12. Logan Ridge Finance has a 1-year low of $18.53 and a 1-year high of $23.63.

Logan Ridge Finance (NASDAQ:LRFC) last released its quarterly earnings data on Tuesday, March 26th. The company reported $0.22 earnings per share for the quarter. Logan Ridge Finance had a return on equity of 4.04% and a net margin of 0.10%. The firm had revenue of $4.42 million during the quarter. On average, equities analysts anticipate that Logan Ridge Finance will post 1.4 earnings per share for the current fiscal year.

Logan Ridge Finance Company Profile

Logan Ridge Finance Corporation, formerly known as, Capitala Finance Corp. is a Business Development Company specializing in senior subordinated debt and unitranche debt, unitranche loan, first-lien and second-lien loans, lower middle market and middle market, equity co-investment in sponsored companies.