Runway Growth Finance Corp. (NASDAQ:RWAY) to Issue Dividend Increase - $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 Wednesday, August 6th, Wall Street Journal reports. Investors of record on Monday, August 18th will be given 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 payout ratio of 85.7% 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 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 Trading Down 0.3%

NASDAQ:RWAY traded down $0.04 during mid-day trading on Wednesday, reaching $11.07. The company's stock had a trading volume of 40,784 shares, compared to its average volume of 320,605. The company's fifty day simple moving average is $10.65 and its two-hundred day simple moving average is $10.42. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.59 and a quick ratio of 0.59. Runway Growth Finance has a twelve month low of $8.35 and a twelve month high of $11.73. The stock has a market cap of $400.77 million, a P/E ratio of 5.83 and a beta of 0.70.

Runway Growth Finance (NASDAQ:RWAY - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.01). The business had revenue of $35.15 million during the quarter, compared to analyst estimates of $34.27 million. Runway Growth Finance had a return on equity of 11.86% and a net margin of 51.03%. On average, equities analysts predict that Runway Growth Finance will post 1.67 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in RWAY. LPL Financial LLC grew its position in shares of Runway Growth Finance by 3.6% in the 4th quarter. LPL Financial LLC now owns 26,776 shares of the company's stock worth $293,000 after acquiring an additional 940 shares in the last quarter. Wells Fargo & Company MN boosted its position in Runway Growth Finance by 920.3% during the 4th quarter. Wells Fargo & Company MN now owns 17,356 shares of the company's stock valued at $190,000 after purchasing an additional 15,655 shares during the period. Raymond James Financial Inc. acquired a new position in Runway Growth Finance during the 4th quarter valued at approximately $734,000. Townsquare Capital LLC boosted its position in Runway Growth Finance by 10.1% during the 4th quarter. Townsquare Capital LLC now owns 64,873 shares of the company's stock valued at $711,000 after purchasing an additional 5,958 shares during the period. Finally, XTX Topco Ltd boosted its position in Runway Growth Finance by 212.7% during the 4th quarter. XTX Topco Ltd now owns 68,607 shares of the company's stock valued at $752,000 after purchasing an additional 46,664 shares during the period. Institutional investors and hedge funds 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.