Portman Ridge Finance Corporation (NASDAQ:PTMN) Announces $0.47 Quarterly Dividend

Key Points

• Portman Ridge Finance Corporation declared a quarterly dividend of $0.47 per share, with an ex-dividend date of August 18th and a payment date of August 29th, representing an annualized yield of 15.2%.
• The company reported earnings of $0.50 per share for the recent quarter, exceeding expectations, despite a negative net margin of 18.10% and revenues of $12.63 million.
• Portman Ridge Finance has a high payout ratio of 89.5%, which may become a concern if earnings decline; future projections suggest a payout ratio of 70.7% with anticipated earnings of $2.66 per share.

Portman Ridge Finance Corporation (NASDAQ:PTMN - Get Free Report) announced a quarterly dividend on Thursday, August 7th, Wall Street Journal reports. Investors of record on Monday, August 18th will be paid a dividend of 0.47 per share on Friday, August 29th. This represents a c) annualized dividend and a yield of 15.1%. The ex-dividend date of this dividend is Monday, August 18th.

Portman Ridge Finance has a dividend payout ratio of 89.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings decline. Equities research analysts expect Portman Ridge Finance to earn $2.66 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 70.7%.

Portman Ridge Finance Stock Performance

NASDAQ:PTMN traded up $0.02 during mid-day trading on Wednesday, hitting $12.47. The stock had a trading volume of 7,039 shares, compared to its average volume of 45,123. The stock has a market capitalization of $114.68 million, a price-to-earnings ratio of -13.40 and a beta of 0.60. The company has a 50 day simple moving average of $12.34 and a 200-day simple moving average of $13.67. Portman Ridge Finance has a 52 week low of $11.48 and a 52 week high of $19.86. The company has a current ratio of 3.11, a quick ratio of 2.48 and a debt-to-equity ratio of 1.54.

Portman Ridge Finance (NASDAQ:PTMN - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.03. The firm had revenue of $12.63 million for the quarter, compared to the consensus estimate of $13.24 million. Portman Ridge Finance had a negative net margin of 15.92% and a positive return on equity of 11.49%. On average, research analysts expect that Portman Ridge Finance will post 2.64 earnings per share for the current fiscal year.

Portman Ridge Finance Company Profile

Portman Ridge Finance Corporation is a business development company specializing in investments in unitranche loans (including last out), first lien loans, second lien loans, subordinated debt, equity co-investment, mezzanine, buyout in middle market companies. It also makes acquisitions in businesses complementary to the firm's business.