SLR Investment Corp. (NASDAQ:SLRC) Declares Quarterly Dividend of $0.31

Key Points

• SLR Investment declared a quarterly dividend of $0.31 per share, payable September 25 to shareholders of record September 11. The annualized dividend is $1.24, implying a 9.4% yield.
• The dividend is currently supported by earnings, with a 76.1% payout ratio; however, analysts expect the forward payout ratio to rise to approximately 94.7% based on projected earnings of $1.31 per share.
• SLR Investment reported quarterly EPS of $0.33, matching consensus estimates, while revenue of $20.5 million fell short of the $48.82 million estimate. The stock opened at $13.18, near the lower end of its 52-week range.

SLR Investment Corp. (NASDAQ:SLRC - Get Free Report) declared a quarterly dividend on Tuesday, August 4th. Stockholders of record on Friday, September 11th will be paid a dividend of 0.31 per share by the financial services provider on Friday, September 25th. This represents a c) dividend on an annualized basis and a dividend yield of 9.4%. The ex-dividend date of this dividend is Friday, September 11th.

SLR Investment has a dividend payout ratio of 76.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall. Equities analysts expect SLR Investment to earn $1.31 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 94.7%.

SLR Investment Stock Performance

NASDAQ:SLRC opened at $13.18 on Wednesday. The firm's fifty day simple moving average is $12.80 and its 200 day simple moving average is $14.00. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.15. SLR Investment has a twelve month low of $12.13 and a twelve month high of $16.83. The firm has a market capitalization of $719.10 million, a price-to-earnings ratio of 8.04 and a beta of 0.64.

SLR Investment (NASDAQ:SLRC - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.33. SLR Investment had a return on equity of 8.33% and a net margin of 41.81%.The firm had revenue of $20.50 million during the quarter, compared to the consensus estimate of $48.82 million. As a group, equities research analysts expect that SLR Investment will post 1.32 earnings per share for the current fiscal year.

Insider Buying and Selling at SLR Investment

In other SLR Investment news, insider Michael S. Gross bought 10,000 shares of the stock in a transaction dated Tuesday, May 12th. The stock was bought at an average cost of $13.09 per share, for a total transaction of $130,900.00. Following the completion of the purchase, the insider directly owned 4,035,153 shares of the company's stock, valued at approximately $52,820,152.77. The trade was a 0.25% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 8.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Acadian Asset Management LLC grew its stake in SLR Investment by 173.3% during the 1st quarter. Acadian Asset Management LLC now owns 16,702 shares of the financial services provider's stock valued at $280,000 after purchasing an additional 10,591 shares in the last quarter. Cetera Investment Advisers raised its position in shares of SLR Investment by 11.7% in the 2nd quarter. Cetera Investment Advisers now owns 40,901 shares of the financial services provider's stock valued at $660,000 after purchasing an additional 4,295 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of SLR Investment during the 2nd quarter valued at approximately $190,000. Invesco Ltd. boosted its stake in shares of SLR Investment by 18.0% during the 2nd quarter. Invesco Ltd. now owns 42,469 shares of the financial services provider's stock valued at $685,000 after buying an additional 6,464 shares during the last quarter. Finally, Jump Financial LLC acquired a new stake in shares of SLR Investment during the second quarter worth approximately $782,000. Hedge funds and other institutional investors own 35.32% of the company's stock.

About SLR Investment

SLR Investment Corp. NASDAQ: SLRC is a closed‐end, externally managed business development company that provides customized debt and equity financing solutions to middle‐market companies. The firm seeks to generate current income and capital appreciation by investing primarily in senior secured loans, second lien financings, mezzanine debt and equity co‐investments. Its flexible capital approach allows it to structure financing across the capital structure to address a range of sponsor‐backed transactions.

SLR Investment Corp.

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