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

SLR Investment Corp. (NASDAQ:SLRC) declared a quarterly dividend on Wednesday, February 26th, 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 dividend on an annualized basis and a dividend yield of 9.53%. The ex-dividend date is Friday, March 14th.

SLR Investment has a dividend 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. 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 Trading Down 1.7 %

Shares of NASDAQ:SLRC opened at $17.20 on Thursday. SLR Investment has a 1 year low of $14.41 and a 1 year high of $17.85. The firm has a market capitalization of $938.43 million, a price-to-earnings ratio of 9.72 and a beta of 1.14. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.06 and a quick ratio of 1.06. The business’s 50 day moving average price is $16.76 and its 200-day moving average price is $16.05.

SLR Investment (NASDAQ:SLRC) last announced its earnings results on Tuesday, February 25th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 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 $55.58 million for the quarter, compared to analyst estimates of $57.08 million. On average, equities research analysts forecast that SLR Investment will post 1.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company increased their target price on SLR Investment from $12.50 to $13.00 and gave the company an “underweight” rating in a research report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target 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.