SLR Investment Corp. Declares Quarterly Dividend of $0.41 (NASDAQ:SLRC)

SLR Investment Corp. (NASDAQ:SLRC) declared a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Shareholders of record on Friday, March 14th will be paid a dividend of 0.41 per share by the financial services provider on Friday, March 28th. This represents a $1.64 annualized dividend and a dividend yield of 9.54%. The ex-dividend date is Friday, March 14th.

SLR Investment has a dividend payout ratio of 100.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect SLR Investment to earn $1.65 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 99.4%.

SLR Investment Stock Down 1.7 %

Shares of SLRC traded down $0.30 during mid-day trading on Wednesday, hitting $17.19. The company’s stock had a trading volume of 263,739 shares, compared to its average volume of 155,375. SLR Investment has a 52-week low of $14.41 and a 52-week high of $17.85. The company’s 50-day moving average is $16.73 and its 200-day moving average is $16.05. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $938.10 million, a price-to-earnings ratio of 9.72 and a beta of 1.14.

SLR Investment (NASDAQ:SLRC) last issued its quarterly earnings results on Tuesday, February 25th. The financial services provider reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. SLR Investment had a return on equity of 9.73% and a net margin of 40.89%. The company had revenue of $55.58 million during the quarter, compared to analysts’ expectations of $57.08 million. On average, equities research analysts forecast that SLR Investment will post 1.76 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Wells Fargo & Company boosted their price target on shares of SLR Investment from $12.50 to $13.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat.com, SLR Investment presently has an average rating of “Hold” and an average target price of $15.25.

About SLR Investment

SLR Investment Corp. is a business development company specializing in secured debt (first lien unitranche and second lien), subordinated (unsecured) debt, minority equity, leveraged buyouts, acquisitions, recapitalizations, general refinancing, growth capital and strategic income-oriented control equity investments in leveraged middle market companies.