SLR Investment Corp. (NASDAQ:SLRC) to Issue $0.41 Quarterly Dividend

SLR Investment Corp. (NASDAQ:SLRC) declared a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Investors of record on Friday, December 13th will be given a dividend of 0.41 per share by the financial services provider on Friday, December 27th. This represents a $1.64 annualized dividend and a yield of 10.28%. The ex-dividend date is Friday, December 13th.

SLR Investment has a payout ratio of 100.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect SLR Investment to earn $1.62 per share next year, which means the company may not be able to cover its $1.64 annual dividend with an expected future payout ratio of 101.2%.

SLR Investment Trading Up 0.3 %

SLRC stock traded up $0.05 during mid-day trading on Friday, reaching $15.95. The company had a trading volume of 8,669 shares, compared to its average volume of 157,503. The firm has a 50 day moving average of $15.30 and a 200 day moving average of $15.66. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.04 and a quick ratio of 1.04. SLR Investment has a 12 month low of $14.41 and a 12 month high of $16.77. The company has a market capitalization of $870.23 million, a PE ratio of 8.98 and a beta of 1.12.

SLR Investment (NASDAQ:SLRC) last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $0.45 EPS for the quarter, beating the consensus estimate of $0.44 by $0.01. SLR Investment had a return on equity of 9.73% and a net margin of 40.89%. The firm had revenue of $58.98 million for the quarter, compared to analyst estimates of $58.23 million. During the same quarter last year, the firm posted $0.42 earnings per share. On average, equities analysts predict that SLR Investment will post 1.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. StockNews.com started coverage on SLR Investment in a research report on Tuesday, July 23rd. They set a “hold” rating on the stock. Wells Fargo & Company lowered their price target on shares of SLR Investment from $13.00 to $12.50 and set an “underweight” rating on the stock in a report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. cut shares of SLR Investment from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $15.50 to $15.00 in a research report on Monday, July 29th. Two analysts have rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $15.13.

About SLR Investment

SLR Investment Corp. is a business development company specializing in secured debt (first lien unitranche and second lien), subordinated (unsecured) debt, minority equity, leveraged buyouts, acquisitions, recapitalizations, general refinancing, growth capital and strategic income-oriented control equity investments in leveraged middle market companies.