Runway Growth Finance Corp. (NASDAQ:RWAY) Plans $0.40 Quarterly Dividend

Runway Growth Finance Corp. (NASDAQ:RWAY) announced a quarterly dividend on Tuesday, November 5th, Zacks reports. Stockholders of record on Monday, November 18th will be given a dividend of 0.40 per share on Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 15.38%. The ex-dividend date is Monday, November 18th.

Runway Growth Finance has a payout ratio of 98.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Runway Growth Finance to earn $1.64 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 97.6%.

Runway Growth Finance Stock Performance

Shares of RWAY traded up $0.41 during mid-day trading on Thursday, reaching $10.40. 384,536 shares of the company’s stock traded hands, compared to its average volume of 320,274. The business’s 50-day moving average price is $10.35 and its 200-day moving average price is $11.24. The stock has a market capitalization of $400.92 million, a P/E ratio of 13.68 and a beta of 0.58. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.63 and a current ratio of 0.63. Runway Growth Finance has a 12 month low of $9.87 and a 12 month high of $13.74.

Runway Growth Finance (NASDAQ:RWAY) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.06). Runway Growth Finance had a net margin of 19.32% and a return on equity of 13.67%. The company had revenue of $34.19 million for the quarter, compared to analyst estimates of $37.62 million. During the same quarter in the prior year, the business earned $0.49 EPS. Equities analysts predict that Runway Growth Finance will post 1.72 earnings per share for the current year.

Wall Street Analysts Forecast Growth

RWAY has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their price objective on shares of Runway Growth Finance from $11.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 29th. JPMorgan Chase & Co. lowered their price objective on shares of Runway Growth Finance from $12.50 to $11.50 and set a “neutral” rating on the stock in a research note on Monday, July 29th. Finally, Compass Point upgraded shares of Runway Growth Finance from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $12.75 to $11.25 in a research report on Thursday, August 15th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $11.79.

Insiders Place Their Bets

In other news, CEO R David Spreng acquired 5,000 shares of the stock in a transaction on Wednesday, August 14th. The shares were purchased at an average cost of $10.17 per share, for a total transaction of $50,850.00. Following the transaction, the chief executive officer now owns 69,532 shares in the company, valued at approximately $707,140.44. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.46% of the company’s stock.

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.