NewtekOne, Inc. (NASDAQ:NEWT) Declares Quarterly Dividend of $0.19

Key Points

• NewtekOne declared a quarterly dividend of $0.19 per share (annualized $0.76) payable April 1 to shareholders of record on March 24, implying a reported yield of about 6.5%.
• The dividend appears well covered: NewtekOne has a current payout ratio of 33.3%, and analysts project ~ $2.12 EPS next year, implying a future payout ratio around 35.8%.
• Trading context: shares were around $11.78 with a market cap of $340.3M and a P/E of 5.38; the company reported quarterly EPS of $0.65 (in line with estimates) and revenue of $120.8M, above expectations, with a 52-week range of $9.12–$14.91.

NewtekOne, Inc. (NASDAQ:NEWT - Get Free Report) announced a quarterly dividend on Friday, March 13th. Stockholders of record on Tuesday, March 24th will be paid a dividend of 0.19 per share by the business services provider on Wednesday, April 1st. This represents a c) annualized dividend and a dividend yield of 6.5%. The ex-dividend date of this dividend is Tuesday, March 24th.

NewtekOne has decreased its dividend payment by an average of 0.2%annually over the last three years and has increased its dividend annually for the last 1 consecutive years. NewtekOne has a payout ratio of 33.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect NewtekOne to earn $2.12 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 35.8%.

NewtekOne Price Performance

Shares of NASDAQ:NEWT traded up $0.05 during midday trading on Friday, reaching $11.78. The company's stock had a trading volume of 159,155 shares, compared to its average volume of 258,734. The business's fifty day simple moving average is $13.09 and its 200-day simple moving average is $11.89. The company has a market capitalization of $340.32 million, a P/E ratio of 5.38 and a beta of 1.25. The company has a debt-to-equity ratio of 6.41, a current ratio of 0.71 and a quick ratio of 0.67. NewtekOne has a fifty-two week low of $9.12 and a fifty-two week high of $14.91.

NewtekOne (NASDAQ:NEWT - Get Free Report) last posted its quarterly earnings data on Thursday, January 29th. The business services provider reported $0.65 earnings per share for the quarter, meeting the consensus estimate of $0.65. The firm had revenue of $120.83 million during the quarter, compared to analysts' expectations of $80.01 million. NewtekOne had a net margin of 15.51% and a return on equity of 18.83%. As a group, equities research analysts expect that NewtekOne will post 1.93 EPS for the current fiscal year.

About NewtekOne

NewtekOne, Inc NASDAQ: NEWT is a publicly traded business development company that specializes in providing financial and business services to small and medium‐sized enterprises across the United States. Operating under the trade name The Newtek Small Business Finance, the company offers a diversified array of lending solutions designed to meet the working capital, equipment acquisition and growth needs of its clients.

The company's core lending offerings include Small Business Administration (SBA) 7(a) loans, equipment financing, lines of credit and commercial real estate financing.

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