Runway Growth Finance Corp. Announces Quarterly Dividend of $0.33 (NASDAQ:RWAY)

Runway Growth Finance Corp. (NASDAQ:RWAY) announced a quarterly dividend on Wednesday, November 5th. Investors of record on Monday, November 17th will be given a dividend of 0.33 per share on Wednesday, December 3rd. This represents a c) annualized dividend and a dividend yield of 13.6%. The ex-dividend date of this dividend is Monday, November 17th.

Runway Growth Finance has a dividend payout ratio of 85.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. 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 0.7%

Shares of NASDAQ RWAY traded down $0.07 during trading hours on Thursday, hitting $9.71. The company’s stock had a trading volume of 164,658 shares, compared to its average volume of 300,837. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a market cap of $351.70 million, a price-to-earnings ratio of 5.11 and a beta of 0.67. Runway Growth Finance has a 12 month low of $8.35 and a 12 month high of $11.73. The business has a 50-day simple moving average of $10.19 and a 200-day simple moving average of $10.24.

Runway Growth Finance (NASDAQ:RWAY) last posted its earnings results on Thursday, August 7th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.01). The business had revenue of $35.15 million during the quarter, compared to the consensus estimate of $34.27 million. Runway Growth Finance had a return on equity of 11.86% and a net margin of 51.03%. On average, analysts anticipate that Runway Growth Finance will post 1.67 earnings per share for the current fiscal year.

Institutional Trading of Runway Growth Finance

A number of hedge funds have recently made changes to their positions in the stock. Sound Income Strategies LLC bought a new stake in shares of Runway Growth Finance in the 3rd quarter worth approximately $13,842,000. HighTower Advisors LLC boosted its position in shares of Runway Growth Finance by 2.7% in the 1st quarter. HighTower Advisors LLC now owns 1,245,645 shares of the company’s stock worth $12,892,000 after purchasing an additional 33,268 shares in the last quarter. North Ground Capital boosted its position in shares of Runway Growth Finance by 23.9% in the 1st quarter. North Ground Capital now owns 1,050,000 shares of the company’s stock worth $10,868,000 after purchasing an additional 202,338 shares in the last quarter. Allium Financial Advisors LLC bought a new stake in shares of Runway Growth Finance in the 1st quarter worth approximately $10,568,000. Finally, Franklin Resources Inc. lifted its position in Runway Growth Finance by 0.4% in the 2nd quarter. Franklin Resources Inc. now owns 461,975 shares of the company’s stock valued at $4,957,000 after acquiring an additional 1,973 shares in the last quarter. 64.61% of the stock is owned by institutional investors.

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.