WhiteHorse Finance, Inc. Announces Quarterly Dividend of $0.25 (NASDAQ:WHF)

Key Points

• WhiteHorse Finance declared a quarterly dividend of $0.25 per share (ex‑dividend and record date May 21) payable July 6, implying an annualized yield of about 13.2%.
• The dividend is currently covered with a payout ratio of ~87.7% and the company has raised payouts for three consecutive years, but analysts forecast roughly $1.00 EPS next year — a ~100% payout — meaning dividend coverage could be at risk if earnings slip.
• In the latest quarter WhiteHorse missed estimates, reporting EPS of $0.25 (vs. $0.28 expected) and revenue of $15.9M (vs. $16.35M), while the stock traded near $7.58 with a market cap of about $168.5M and a P/E of ~12.2.

WhiteHorse Finance, Inc. (NASDAQ:WHF - Get Free Report) declared a quarterly dividend on Thursday, May 7th. Investors of record on Thursday, May 21st will be paid a dividend of 0.25 per share by the investment management company on Monday, July 6th. This represents a c) annualized dividend and a yield of 13.2%. The ex-dividend date of this dividend is Thursday, May 21st.

WhiteHorse Finance has decreased its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 3 consecutive years. WhiteHorse Finance has a payout ratio of 87.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings decline. Equities analysts expect WhiteHorse Finance to earn $1.00 per share next year, which means the company may not be able to cover its $1.00 annual dividend with an expected future payout ratio of 100.0%.

WhiteHorse Finance Price Performance

NASDAQ:WHF traded down $0.02 during mid-day trading on Thursday, reaching $7.58. 99,351 shares of the company were exchanged, compared to its average volume of 111,263. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.25. The stock has a market cap of $168.53 million, a PE ratio of 12.23 and a beta of 0.41. WhiteHorse Finance has a 12 month low of $6.07 and a 12 month high of $9.66. The company has a fifty day moving average of $7.29 and a 200 day moving average of $7.11.

WhiteHorse Finance (NASDAQ:WHF - Get Free Report) last announced its earnings results on Thursday, May 7th. The investment management company reported $0.25 earnings per share for the quarter, missing analysts' consensus estimates of $0.28 by ($0.03). WhiteHorse Finance had a return on equity of 9.66% and a net margin of 19.73%.The company had revenue of $15.90 million during the quarter, compared to the consensus estimate of $16.35 million. On average, research analysts anticipate that WhiteHorse Finance will post 1.08 EPS for the current fiscal year.

WhiteHorse Finance Company Profile

WhiteHorse Finance Corporation NASDAQ: WHF is a closed-end management investment company organized as a business development company under the Investment Company Act of 1940. The firm's primary objective is to generate current income and, to a lesser extent, capital appreciation by making debt and equity investments in privately held middle-market companies. WhiteHorse Finance seeks to partner with established businesses across a range of industries, providing flexible financing solutions designed to support growth initiatives, acquisitions and recapitalizations.

The company's investment portfolio predominantly comprises senior secured loans, second-lien debt, subordinated debt and select equity interests.

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