Runway Growth Finance Corp. (RWAY) To Go Ex-Dividend on March 31st

Runway Growth Finance Corp. (NASDAQ:RWAY) declared a — dividend on Thursday, March 20th, Wall Street Journal reports. Shareholders of record on Monday, March 31st will be paid a dividend of 0.03 per share on Monday, April 14th. This represents a yield of 15.1%. The ex-dividend date of this dividend is Monday, March 31st.

Runway Growth Finance has raised its dividend by an average of 85.7% per year over the last three years. Runway Growth Finance has a payout ratio of 91.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Runway Growth Finance to earn $1.59 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 83.0%.

Runway Growth Finance Trading Down 0.9 %

Shares of NASDAQ:RWAY opened at $10.75 on Friday. The company has a market cap of $401.48 million, a P/E ratio of 10.34 and a beta of 0.59. The stock’s 50-day moving average is $11.24 and its 200-day moving average is $10.77. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.36 and a current ratio of 0.36. Runway Growth Finance has a 52-week low of $9.87 and a 52-week high of $13.50.

Runway Growth Finance (NASDAQ:RWAY) last posted its quarterly earnings results on Thursday, March 20th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.03). The firm had revenue of $33.78 million during the quarter, compared to analyst estimates of $36.10 million. Runway Growth Finance had a net margin of 27.05% and a return on equity of 12.91%. Equities research analysts predict that Runway Growth Finance will post 1.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on RWAY. Wells Fargo & Company increased their price objective on Runway Growth Finance from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. cut their target price on shares of Runway Growth Finance from $11.00 to $10.50 and set a “neutral” rating on the stock in a research report on Friday, March 21st. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $11.65.

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.