Portman Ridge Finance Co. (NASDAQ:PTMN – Get Free Report) 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 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.
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