Runway Growth Finance Corp. (NASDAQ:RWAY) Shareholders Set to Receive $0.33 Quarterly Dividend

Runway Growth Finance Corp. (NASDAQ:RWAY) declared a quarterly dividend on Wednesday, November 4th. Shareholders of record on Tuesday, November 17th will be given a dividend of $0.33 per share on Thursday, December 3rd. This represents a $1.32 annualized dividend and a yield of 20.1%. The ex-dividend date is Tuesday, November 17th.

Runway Growth Finance has a payout ratio of 85.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect Runway Growth Finance to earn $1.30 per share next year, which means the company may not be able to cover its $1.32 annual dividend with an expected future payout ratio of 101.5%.

Runway Growth Finance Stock Up 1.5%

RWAY stock opened at $6.56 on Thursday. Runway Growth Finance has a fifty-two week low of $5.19 and a fifty-two week high of $10.06. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market capitalization of $274.93 million, a price-to-earnings ratio of 4.39 and a beta of 0.70. The business’s fifty day moving average price is $6.54 and its two-hundred day moving average price is $6.76.

Runway Growth Finance (NASDAQ:RWAY) last announced its earnings results on Thursday, August 6th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.14. Runway Growth Finance had a net margin of 5.82% and a return on equity of 11.73%. The company had revenue of $37.03 million during the quarter, compared to analysts’ expectations of $31.06 million. On average, equities analysts anticipate that Runway Growth Finance will post 1.39 earnings per share for the current year.

Analysts Set New Price Targets

RWAY has been the subject of several analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Runway Growth Finance in a report on Friday, September 11th. B. Riley Financial reiterated a “buy” rating and issued a $11.00 price target (up from $10.00) on shares of Runway Growth Finance in a research note on Thursday, August 13th. Zacks Research upgraded shares of Runway Growth Finance from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Finally, Wall Street Zen upgraded Runway Growth Finance from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.40.

About Runway Growth Finance

Runway Growth Finance Corp. is a business development company (BDC) that provides financing to growth-oriented companies, primarily in the technology, life sciences, healthcare, products and services sectors. The company seeks to support businesses that may have limited access to traditional bank financing or require capital to fund expansion, acquisitions, product development and other strategic initiatives.

Its investment activity is centered on senior secured loans, including term loans and other structured debt investments.