Silver Spike Investment Corp. Declares Quarterly Dividend of $0.25 (NASDAQ:SSIC)

Posted by Donna Armstrong on Sep 18th, 2024

Silver Spike Investment Corp. (NASDAQ:SSIC – Get Free Report) declared a quarterly dividend on Thursday, August 8th, Zacks reports. Investors of record on Thursday, September 19th will be given a dividend of 0.25 per share on Friday, September 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.39%. The ex-dividend date is Thursday, September 19th.

Silver Spike Investment has a dividend payout ratio of 101.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Silver Spike Investment Stock Up 2.1 %

Shares of NASDAQ SSIC opened at $11.92 on Wednesday. Silver Spike Investment has a 52-week low of $7.29 and a 52-week high of $12.45. The business’s 50 day moving average is $11.66 and its two-hundred day moving average is $11.15. The firm has a market cap of $74.08 million, a price-to-earnings ratio of 13.70 and a beta of 0.28.

Silver Spike Investment (NASDAQ:SSIC – Get Free Report) last posted its earnings results on Thursday, August 8th. The company reported $0.25 earnings per share (EPS) for the quarter. The firm had revenue of $3.08 million for the quarter, compared to analyst estimates of $2.50 million. Silver Spike Investment had a return on equity of 5.62% and a net margin of 44.96%.

Silver Spike Investment Company Profile

(Get Free Report)

Silver Spike Investment Corp., is a a business development company. It is a specialty finance company, focuses on investing across the cannabis ecosystem through investments in the form of direct loans to, and equity ownership of, privately held cannabis companies. It intends to partner with private equity firms, entrepreneurs, business owners, and management teams to provide credit and equity financing alternatives to support buyouts, recapitalizations, growth initiatives, refinancings, and acquisitions across cannabis companies, including cannabis-enabling technology companies, cannabis-related health and wellness companies, and hemp and CBD distribution companies.