Silver Spike Investment Corp. (NASDAQ:SSIC) to Issue $0.25 Quarterly Dividend

Silver Spike Investment Corp. (NASDAQ:SSIC - Get Free Report) announced a quarterly dividend on Thursday, May 9th, Zacks reports. Stockholders of record on Thursday, June 20th will be paid a dividend of 0.25 per share on Friday, June 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.85%. The ex-dividend date is Thursday, June 20th.

Silver Spike Investment has a dividend payout ratio of 101.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Silver Spike Investment Stock Performance

Shares of SSIC stock traded down $0.02 during mid-day trading on Friday, reaching $11.30. 5,151 shares of the company's stock traded hands, compared to its average volume of 12,799. Silver Spike Investment has a 12 month low of $7.29 and a 12 month high of $11.49. The firm has a 50 day moving average price of $10.30 and a two-hundred day moving average price of $9.35. The firm has a market capitalization of $70.17 million, a PE ratio of 12.99 and a beta of 0.28.

Silver Spike Investment (NASDAQ:SSIC - Get Free Report) last issued its earnings results on Thursday, May 9th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.09). The firm had revenue of $2.76 million during the quarter, compared to the consensus estimate of $2.38 million. Silver Spike Investment had a return on equity of 5.91% and a net margin of 44.98%. During the same period in the prior year, the company posted $0.22 EPS. As a group, equities analysts expect that Silver Spike Investment will post 0.46 earnings per share for the current fiscal year.

About Silver Spike Investment

Silver Spike Investment Corp., is a a business development company. It is a specialty finance company, focuses on investing across the cannabis ecosystem through investments in the form of direct loans to, and equity ownership of, privately held cannabis companies. It intends to partner with private equity firms, entrepreneurs, business owners, and management teams to provide credit and equity financing alternatives to support buyouts, recapitalizations, growth initiatives, refinancings, and acquisitions across cannabis companies, including cannabis-enabling technology companies, cannabis-related health and wellness companies, and hemp and CBD distribution companies.