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

Portman Ridge Finance logo with Finance background

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.
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Portman Ridge Finance Corporation (NASDAQ:PTMN - Get Free Report) declared a quarterly dividend on Friday, August 8th, Wall Street Journal reports. Investors of record on Monday, August 18th will be given a dividend of 0.47 per share on Friday, August 29th. This represents a c) dividend on an annualized basis and a yield of 15.2%. The ex-dividend date of this dividend is Monday, August 18th.

Portman Ridge Finance has a payout ratio of 89.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall. 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

Portman Ridge Finance stock traded up $0.09 during midday trading on Friday, reaching $12.34. 63,607 shares of the company's stock were exchanged, compared to its average volume of 45,401. The stock's 50-day simple moving average is $12.31 and its 200 day simple moving average is $13.78. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.48 and a current ratio of 2.48. The firm has a market cap of $113.53 million, a price-to-earnings ratio of -10.92 and a beta of 0.60. Portman Ridge Finance has a 52 week low of $11.48 and a 52 week high of $19.86.

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 (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.03. Portman Ridge Finance had a negative net margin of 18.10% and a positive return on equity of 12.04%. The firm had revenue of $12.63 million during the quarter, compared to the consensus estimate of $13.24 million. On average, analysts expect that Portman Ridge Finance will post 2.64 earnings per share for the current fiscal year.

About Portman Ridge Finance

(Get Free Report)

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.

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Dividend History for Portman Ridge Finance (NASDAQ:PTMN)

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