MidCap Financial Investment Corporation (NASDAQ:MFIC) to Issue $0.38 Quarterly Dividend

Key Points

• MidCap Financial Investment Corporation has declared a quarterly dividend of $0.38, with a yield of 11.6%, to be paid on September 25th to investors of record as of September 9th.
• The company has a dividend payout ratio of 101.3%, indicating it cannot currently cover its dividend with earnings alone and relies on its balance sheet for payments.
• MidCap Financial recently reported earnings of $0.39 per share, exceeding estimates, while revenues for the quarter were slightly below expectations at $81.25 million.

MidCap Financial Investment Corporation (NASDAQ:MFIC - Get Free Report) declared a quarterly dividend on Tuesday, August 5th, Wall Street Journal reports. Shareholders of record on Tuesday, September 9th will be given a dividend of 0.38 per share on Thursday, September 25th. This represents a c) annualized dividend and a dividend yield of 11.8%. The ex-dividend date of this dividend is Tuesday, September 9th.

MidCap Financial Investment has a payout ratio of 101.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect MidCap Financial Investment to earn $1.60 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 95.0%.

MidCap Financial Investment Stock Performance

Shares of NASDAQ:MFIC traded down $0.16 on Friday, hitting $12.87. The company had a trading volume of 372,310 shares, compared to its average volume of 361,221. MidCap Financial Investment has a 1-year low of $10.18 and a 1-year high of $14.74. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 11.92 and a beta of 0.99. The stock has a 50 day moving average price of $12.73 and a 200 day moving average price of $12.80. The company has a current ratio of 3.53, a quick ratio of 5.98 and a debt-to-equity ratio of 1.49.

MidCap Financial Investment (NASDAQ:MFIC - Get Free Report) last announced its earnings results on Monday, August 11th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.02. The company had revenue of $81.25 million during the quarter, compared to analysts' expectations of $81.70 million. MidCap Financial Investment had a net margin of 30.60% and a return on equity of 10.44%. Analysts expect that MidCap Financial Investment will post 1.73 EPS for the current year.

About MidCap Financial Investment

MidCap Financial Investment Corporation (Former name Apollo Investment Corporation) is business development company and a closed-end, externally managed, non-diversified management investment company. It is elected to be treated as a business development company (BDC) under the Investment Company Act of 1940 (the 1940 Act) specializing in private equity investments in leveraged buyouts, acquisitions, recapitalizations, growth capital, refinancing and private middle market companies.