Logan Ridge Finance Co. (LRFC) To Go Ex-Dividend on March 24th

Logan Ridge Finance Co. (NASDAQ:LRFC) announced a quarterly dividend on Thursday, March 13th, Wall Street Journal reports. Shareholders of record on Monday, March 24th will be given a dividend of 0.36 per share on Monday, March 31st. This represents a $1.44 dividend on an annualized basis and a yield of 6.14%. The ex-dividend date of this dividend is Monday, March 24th.

Logan Ridge Finance has a payout ratio of 94.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Logan Ridge Finance to earn $1.45 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 91.0%.

Logan Ridge Finance Price Performance

Shares of LRFC stock opened at $23.45 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.12 and a quick ratio of 0.12. The stock’s fifty day simple moving average is $24.49 and its 200 day simple moving average is $24.36. Logan Ridge Finance has a one year low of $20.65 and a one year high of $26.00. The firm has a market cap of $62.54 million, a price-to-earnings ratio of -18.61 and a beta of 1.23.

About Logan Ridge Finance

Logan Ridge Finance Corporation, formerly known as, Capitala Finance Corp. is a Business Development Company specializing in senior subordinated debt and unitranche debt, unitranche loan, first-lien and second-lien loans, lower middle market and middle market, equity co-investment in sponsored companies.