Monroe Capital Corporation (NASDAQ:MRCC) Announces Quarterly Dividend of $0.25

Key Points

• Monroe Capital Corporation declared a quarterly dividend of $0.25 per share, which will be paid on September 30th to shareholders on record as of September 22nd, offering an annual yield of 13.2%.
• The company's current payout ratio stands at 123.5%, indicating that it is relying on its balance sheet to support its dividend payments due to insufficient earnings coverage.
• After missing earnings expectations with a reported $0.15 EPS compared to the consensus estimate of $0.21 EPS, analysts forecast Monroe Capital to generate $1.07 EPS next year.

Monroe Capital Corporation (NASDAQ:MRCC - Get Free Report) announced a quarterly dividend on Wednesday, September 10th, RTT News reports. Shareholders of record on Monday, September 22nd will be given a dividend of 0.25 per share by the financial services provider on Tuesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 13.2%.

Monroe Capital has a payout ratio of 123.5% indicating that 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 Monroe Capital to earn $1.07 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 93.5%.

Monroe Capital Stock Up 1.3%

Monroe Capital stock traded up $0.10 during mid-day trading on Wednesday, hitting $7.56. 53,600 shares of the company's stock were exchanged, compared to its average volume of 75,057. The company has a current ratio of 4.02, a quick ratio of 4.02 and a debt-to-equity ratio of 1.16. The stock has a 50 day moving average of $6.76 and a two-hundred day moving average of $6.97. Monroe Capital has a 1-year low of $5.96 and a 1-year high of $8.85. The stock has a market cap of $163.83 million, a P/E ratio of 84.00 and a beta of 0.91.

Monroe Capital (NASDAQ:MRCC - Get Free Report) last posted its earnings results on Monday, August 11th. The financial services provider reported $0.15 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.21 by ($0.06). Monroe Capital had a net margin of 3.74% and a return on equity of 10.70%. The firm had revenue of $9.87 million during the quarter, compared to the consensus estimate of $12.38 million. As a group, analysts anticipate that Monroe Capital will post 1.14 EPS for the current fiscal year.

About Monroe Capital

Monroe Capital Corporation is a business development company specializing in customized financing solutions in senior, unitranche and junior secured debt, subordinated debt financing and to a lesser extent, unsecured debt and equity, including equity co-investments in preferred and common stock and warrants.

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