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

SLR Investment Corp. (NASDAQ:SLRC) announced a quarterly dividend on Tuesday, February 25th, Wall Street Journal reports. Stockholders of record on Friday, March 14th will be paid a dividend of 0.41 per share by the financial services provider on Friday, March 28th. This represents a $1.64 annualized dividend and a dividend yield of 9.50%. The ex-dividend date of this dividend is Friday, March 14th.

SLR Investment has a payout ratio of 100.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect SLR Investment to earn $1.65 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 99.4%.

SLR Investment Stock Up 0.4 %

SLR Investment stock traded up $0.07 during midday trading on Thursday, hitting $17.27. 187,770 shares of the company were exchanged, compared to its average volume of 157,941. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.06 and a quick ratio of 1.06. SLR Investment has a fifty-two week low of $14.41 and a fifty-two week high of $17.85. The company’s fifty day moving average price is $16.76 and its 200-day moving average price is $16.05. The company has a market cap of $942.25 million, a PE ratio of 9.76 and a beta of 1.14.

SLR Investment (NASDAQ:SLRC) last posted its earnings results on Tuesday, February 25th. The financial services provider reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The business had revenue of $55.58 million for the quarter, compared to analysts’ expectations of $57.08 million. SLR Investment had a net margin of 40.89% and a return on equity of 9.73%. On average, research analysts predict that SLR Investment will post 1.76 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Wells Fargo & Company upped their price objective on shares of SLR Investment from $12.50 to $13.00 and gave the company an “underweight” rating in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $15.25.

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.