WhiteHorse Finance, Inc. (NASDAQ:WHF) Announces Dividend of $0.04

Key Points

• WhiteHorse Finance, Inc. has announced a dividend of $0.04 per share, with the ex-dividend date set for October 31st and payment scheduled for December 10th.
• The company has a high dividend payout ratio of 135.1%, indicating reliance on its balance sheet to cover dividends, as future earnings may not sufficiently support its annual dividend of $1.54.
• WhiteHorse Finance reported earnings of $0.28 per share in its last quarterly update, falling short of the $0.31 consensus estimate, with revenues of $18.84 million compared to expected figures of $19.33 million.

WhiteHorse Finance, Inc. (NASDAQ:WHF - Get Free Report) announced a dividend on Wednesday, October 15th. Investors of record on Friday, October 31st will be paid a dividend of 0.035 per share by the investment management company on Wednesday, December 10th. The ex-dividend date of this dividend is Friday, October 31st.

WhiteHorse Finance has a dividend payout ratio of 135.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect WhiteHorse Finance to earn $1.46 per share next year, which means the company may not be able to cover its $1.54 annual dividend with an expected future payout ratio of 105.5%.

WhiteHorse Finance Stock Performance

Shares of NASDAQ:WHF opened at $6.82 on Thursday. The company has a market cap of $158.50 million, a PE ratio of 45.47 and a beta of 0.75. The company's 50-day moving average price is $8.00 and its 200 day moving average price is $8.73. WhiteHorse Finance has a fifty-two week low of $6.53 and a fifty-two week high of $12.18. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.32.

WhiteHorse Finance (NASDAQ:WHF - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The investment management company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.03). WhiteHorse Finance had a net margin of 4.36% and a return on equity of 10.72%. The firm had revenue of $18.84 million during the quarter, compared to the consensus estimate of $19.33 million. Sell-side analysts anticipate that WhiteHorse Finance will post 1.66 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Northstar Advisory Group LLC purchased a new position in WhiteHorse Finance during the second quarter valued at approximately $87,000. Oxford Asset Management LLP purchased a new position in WhiteHorse Finance during the second quarter valued at approximately $105,000. Marshall Wace LLP purchased a new position in WhiteHorse Finance during the second quarter valued at approximately $368,000. Cambridge Investment Research Advisors Inc. grew its position in WhiteHorse Finance by 26.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 45,799 shares of the investment management company's stock valued at $442,000 after purchasing an additional 9,709 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its stake in WhiteHorse Finance by 13.4% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 48,487 shares of the investment management company's stock valued at $468,000 after acquiring an additional 5,715 shares during the last quarter. 13.20% of the stock is owned by hedge funds and other institutional investors.

About WhiteHorse Finance

WhiteHorse Finance, Inc is business development company, non-diversified, closed end management company specializing in originating senior secured loans, lower middle market, growth capital industries. It invests in broadline retail, office services and supplies, building products, health care services, health care supplies, research and consulting services, application software, home furnishings, specialized consumer services, data processing and outsourced services, leisure facilities, cable, and satellite.

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