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

Runway Growth Finance Corp. (NASDAQ:RWAY) declared a quarterly dividend on Wednesday, August 5th. Investors of record on Monday, August 17th will be paid a dividend of 0.33 per share on Monday, August 31st. This represents a c) dividend on an annualized basis and a yield of 23.0%. The ex-dividend date is Monday, August 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. Equities research analysts expect Runway Growth Finance to earn $1.25 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 105.6%.

Runway Growth Finance Price Performance

Shares of NASDAQ RWAY opened at $5.75 on Thursday. Runway Growth Finance has a 52 week low of $5.19 and a 52 week high of $11.20. The business’s 50 day moving average price is $5.69 and its 200 day moving average price is $6.86. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 1.01. The firm has a market cap of $244.20 million, a P/E ratio of -63.89 and a beta of 0.66.

Runway Growth Finance (NASDAQ:RWAY) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.02). Runway Growth Finance had a positive return on equity of 10.87% and a negative net margin of 2.00%.The firm had revenue of $29.45 million for the quarter, compared to analyst estimates of $29.46 million. On average, sell-side analysts expect that Runway Growth Finance will post 1.22 earnings per share for the current year.

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.