Portman Ridge Finance Co. Plans Quarterly Dividend of $0.69 (NASDAQ:PTMN)

Portman Ridge Finance Co. (NASDAQ:PTMN) declared a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Stockholders of record on Tuesday, November 19th will be given a dividend of 0.69 per share on Friday, November 29th. This represents a $2.76 annualized dividend and a dividend yield of 15.42%. The ex-dividend date of this dividend is Tuesday, November 19th.

Portman Ridge Finance has increased its dividend payment by an average of 4.6% annually over the last three years. Portman Ridge Finance has a payout ratio of 99.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Portman Ridge Finance to earn $2.86 per share next year, which means the company should continue to be able to cover its $2.76 annual dividend with an expected future payout ratio of 96.5%.

Portman Ridge Finance Trading Down 3.0 %

Shares of PTMN traded down $0.55 during mid-day trading on Friday, hitting $17.90. 143,808 shares of the company’s stock traded hands, compared to its average volume of 32,401. The company has a quick ratio of 4.40, a current ratio of 4.40 and a debt-to-equity ratio of 1.44. Portman Ridge Finance has a 1 year low of $16.27 and a 1 year high of $20.84. The firm has a market capitalization of $165.40 million, a P/E ratio of 13.66 and a beta of 1.02. The business’s 50-day moving average price is $18.37 and its 200-day moving average price is $19.05.

Portman Ridge Finance (NASDAQ:PTMN) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The firm had revenue of $16.34 million for the quarter, compared to the consensus estimate of $16.68 million. Portman Ridge Finance had a return on equity of 14.86% and a net margin of 18.14%. During the same period in the prior year, the company posted $0.83 earnings per share. As a group, sell-side analysts forecast that Portman Ridge Finance will post 2.74 EPS for the current fiscal year.

Portman Ridge Finance Company Profile

Portman Ridge Finance Corporation is a business development company specializing in investments in unitranche loans (including last out), first lien loans, second lien loans, subordinated debt, equity co-investment, mezzanine, buyout in middle market companies. It also makes acquisitions in businesses complementary to the firm's business.