Runway Growth Finance Corp. (NASDAQ:RWAY) Raises Dividend to $0.36 Per Share

Key Points

• Runway Growth Finance Corp. has raised its dividend to $0.36 per share, a significant increase from the previous $0.03 dividend, resulting in a yield of 1,200.0%.
• The ex-dividend date is set for August 18th, with payment to shareholders on September 2nd.
• Institutional investors hold 64.61% of the company's stock, indicating a strong interest in the company's performance and future potential.

Runway Growth Finance Corp. (NASDAQ:RWAY - Get Free Report) announced a -- dividend on Friday, August 8th, Wall Street Journal reports. Shareholders of record on Monday, August 18th will be paid a dividend of 0.36 per share on Tuesday, September 2nd. This represents a dividend yield of 1,200.0%. The ex-dividend date is Monday, August 18th. This is a 1,100.0% increase from Runway Growth Finance's previous -- dividend of $0.03.

Runway Growth Finance has a dividend payout ratio of 85.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. Analysts expect Runway Growth Finance to earn $1.59 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 83.0%.

Runway Growth Finance Stock Performance

Shares of RWAY stock traded up $0.11 during mid-day trading on Friday, reaching $10.98. The stock had a trading volume of 416,213 shares, compared to its average volume of 321,918. The firm's 50 day simple moving average is $10.58 and its 200 day simple moving average is $10.43. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.98. Runway Growth Finance has a one year low of $8.35 and a one year high of $11.73. The firm has a market cap of $410.07 million, a PE ratio of 6.61 and a beta of 0.70.

Runway Growth Finance (NASDAQ:RWAY - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.38 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.01). Runway Growth Finance had a net margin of 45.30% and a return on equity of 11.95%. The business had revenue of $35.15 million for the quarter, compared to analyst estimates of $34.27 million. On average, analysts forecast that Runway Growth Finance will post 1.67 EPS for the current year.

Institutional Investors Weigh In On Runway Growth Finance

Large investors have recently bought and sold shares of the company. Quarry LP bought a new position in Runway Growth Finance during the fourth quarter worth about $30,000. Canton Hathaway LLC bought a new position in Runway Growth Finance during the first quarter worth about $63,000. PharVision Advisers LLC bought a new position in Runway Growth Finance during the fourth quarter worth about $113,000. Cetera Investment Advisers bought a new position in Runway Growth Finance during the fourth quarter worth about $114,000. Finally, State of Wyoming bought a new position in Runway Growth Finance during the fourth quarter worth about $116,000. Institutional investors own 64.61% of the company's stock.

About Runway Growth Finance

Runway Growth Finance Corp. is a business development company specializing investments in senior-secured loans to late stage and growth companies. It prefers to make investments in companies engaged in the technology, life sciences, healthcare and information services, business services and select consumer services and products sectors.

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