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

Runway Growth Finance Corp. (NASDAQ:RWAY) declared a quarterly dividend on Tuesday, November 5th,Zacks Dividends reports. Stockholders of record on Monday, November 18th will be given 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 15.37%. The ex-dividend date of this dividend is Monday, November 18th.

Runway Growth Finance has a payout ratio of 98.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research 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 Up 0.1 %

RWAY stock opened at $10.41 on Friday. The company’s 50 day moving average is $10.34 and its 200 day moving average is $11.15. The company has a current ratio of 0.36, a quick ratio of 0.63 and a debt-to-equity ratio of 1.07. The stock has a market cap of $389.33 million, a price-to-earnings ratio of 10.01 and a beta of 0.58. Runway Growth Finance has a 1-year low of $9.87 and a 1-year high of $13.74.

Analyst Ratings Changes

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

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.