Logan Ridge Finance Co. (NASDAQ:LRFC) to Issue Quarterly Dividend of $0.33

Logan Ridge Finance Co. (NASDAQ:LRFC - Get Free Report) announced a quarterly dividend on Wednesday, May 8th, Zacks reports. Investors of record on Tuesday, May 21st will be given a dividend of 0.33 per share on Friday, May 31st. This represents a $1.32 dividend on an annualized basis and a yield of 5.92%. The ex-dividend date of this dividend is Monday, May 20th. This is an increase from Logan Ridge Finance's previous quarterly dividend of $0.32.

Logan Ridge Finance has decreased its dividend by an average of 13.8% per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Logan Ridge Finance has a dividend payout ratio of 88.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings decline. Equities analysts expect Logan Ridge Finance to earn $1.45 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 88.3%.

Logan Ridge Finance Price Performance

LRFC traded up $0.03 during midday trading on Friday, hitting $22.28. 257 shares of the company traded hands, compared to its average volume of 3,719. The business has a 50 day simple moving average of $22.31 and a two-hundred day simple moving average of $22.24. Logan Ridge Finance has a 52-week low of $18.53 and a 52-week high of $23.63. The company has a market capitalization of $59.71 million, a price-to-earnings ratio of -21.02 and a beta of 1.29. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.16.

Logan Ridge Finance (NASDAQ:LRFC - Get Free Report) last issued its quarterly earnings results on Tuesday, March 26th. The company reported $0.22 earnings per share for the quarter. Logan Ridge Finance had a negative net margin of 12.30% and a positive return on equity of 4.13%. The firm had revenue of $4.42 million for the quarter. On average, equities analysts forecast that Logan Ridge Finance will post 1.4 earnings per share for the current fiscal year.

Logan Ridge Finance Company Profile

Logan Ridge Finance Corporation, formerly known as, Capitala Finance Corp. is a Business Development Company specializing in senior subordinated debt and unitranche debt, unitranche loan, first-lien and second-lien loans, lower middle market and middle market, equity co-investment in sponsored companies.

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