Runway Growth Finance Corp. (NASDAQ:RWAY) Announces $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 annualized dividend and a dividend yield of 15.38%. The ex-dividend date of this dividend is Monday, November 18th.

Runway Growth Finance has a payout ratio of 98.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities 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

NASDAQ RWAY opened at $10.40 on Thursday. The stock has a market capitalization of $400.92 million, a price-to-earnings ratio of 13.68 and a beta of 0.58. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 1.08. The business’s 50 day moving average is $10.35 and its two-hundred day moving average is $11.24. 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 issued its quarterly earnings results on Thursday, August 8th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.06). The business had revenue of $34.19 million for the quarter, compared to analysts’ expectations of $37.62 million. Runway Growth Finance had a return on equity of 13.67% and a net margin of 19.32%. During the same period in the prior year, the company earned $0.49 EPS. Research analysts expect that Runway Growth Finance will post 1.72 EPS for the current year.

Insider Activity

In other news, CEO R David Spreng purchased 5,000 shares of Runway Growth Finance stock in a transaction on Wednesday, August 14th. The stock was purchased at an average price of $10.17 per share, with a total value of $50,850.00. Following the transaction, the chief executive officer now directly owns 69,532 shares in the company, valued at $707,140.44. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 1.46% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

RWAY has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their price target on Runway Growth Finance from $12.50 to $11.50 and set a “neutral” rating for the company in a report on Monday, July 29th. Compass Point raised shares of Runway Growth Finance from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $12.75 to $11.25 in a research report on Thursday, August 15th. Finally, Wells Fargo & Company cut their price target on Runway Growth Finance from $11.00 to $10.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 29th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Runway Growth Finance has a consensus rating of “Hold” and an average price target of $11.79.

Runway Growth Finance Company Profile

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.