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

Runway Growth Finance Corp. (NASDAQ:RWAY) declared a quarterly dividend on Thursday, February 26th. Investors of record on Tuesday, March 10th will be given a dividend of 0.33 per share on Tuesday, March 24th. This represents a c) dividend on an annualized basis and a yield of 16.1%. The ex-dividend date is Tuesday, March 10th.

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 Stock Performance

Runway Growth Finance stock traded up $0.09 during midday trading on Thursday, reaching $8.21. 492,929 shares of the stock traded hands, compared to its average volume of 397,019. The firm has a fifty day moving average price of $8.94 and a two-hundred day moving average price of $9.61. The firm has a market cap of $296.45 million, a price-to-earnings ratio of 5.01 and a beta of 0.68. Runway Growth Finance has a fifty-two week low of $7.99 and a fifty-two week high of $11.57. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.91.

Runway Growth Finance Company Profile

Runway Growth Finance, Inc is a publicly traded business development company that provides customized debt and equity financing solutions to high‐growth, venture‐backed companies. The firm specializes in structuring senior secured loans, unitranche facilities, second‐lien financings, convertible notes and equity co‐investments designed to extend the cash runway for late‐stage companies. Runway’s flexible capital offerings are aimed at supporting technology, life sciences and other innovation‐driven sectors as they pursue growth initiatives and prepare for liquidity events.

Originally launched in 2017 under the name Saratoga Investment Corp., the company rebranded as Runway Growth Finance in 2020 following the acquisition of an established middle‐market credit manager.