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

Runway Growth Finance Corp. (NASDAQ:RWAY) announced a quarterly dividend on Tuesday, November 5th, Zacks reports. Investors of record on Monday, November 18th will be paid a dividend of 0.40 per share on Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 15.38%. The ex-dividend date of this dividend is Monday, November 18th.

Runway Growth Finance has a payout ratio of 98.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Runway Growth Finance to earn $1.64 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 97.6%.

Runway Growth Finance Stock Up 4.1 %

RWAY stock opened at $10.40 on Thursday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $400.92 million, a PE ratio of 13.68 and a beta of 0.58. Runway Growth Finance has a twelve month low of $9.87 and a twelve month high of $13.74. The stock has a 50-day simple moving average of $10.35 and a two-hundred day simple moving average of $11.24.

Runway Growth Finance (NASDAQ:RWAY) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.06). The company had revenue of $34.19 million during the quarter, compared to the consensus estimate of $37.62 million. Runway Growth Finance had a net margin of 19.32% and a return on equity of 13.67%. During the same quarter in the previous year, the firm posted $0.49 EPS. On average, equities analysts predict that Runway Growth Finance will post 1.72 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Wells Fargo & Company cut 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. decreased their price objective on Runway Growth Finance from $12.50 to $11.50 and set a “neutral” rating on the stock in a research note on Monday, July 29th. Finally, Compass Point raised Runway Growth Finance from a “neutral” rating to a “buy” rating and decreased their target price for the company from $12.75 to $11.25 in a research note on Thursday, August 15th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $11.79.

Insider Activity

In related news, CEO R David Spreng bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were purchased at an average cost of $10.17 per share, with a total value of $50,850.00. Following the completion of the acquisition, the chief executive officer now directly owns 69,532 shares in the company, valued at approximately $707,140.44. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.46% of the company’s stock.

About Runway Growth Finance

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.