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

SLR Investment Corp. (NASDAQ:SLRC) announced 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 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. Equities 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 %

NASDAQ:SLRC traded down $0.30 on Wednesday, hitting $17.19. 263,739 shares of the company’s stock traded hands, compared to its average volume of 155,375. The company has a market cap of $938.10 million, a PE ratio of 9.72 and a beta of 1.14. 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 50-day moving average price of $16.73 and a 200-day moving average price of $16.05. SLR Investment has a 1 year low of $14.41 and a 1 year high of $17.85.

SLR Investment (NASDAQ:SLRC) last posted its quarterly earnings data on Tuesday, February 25th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. The firm had revenue of $55.58 million for the quarter, compared to the consensus estimate of $57.08 million. SLR Investment had a return on equity of 9.73% and a net margin of 40.89%. Equities analysts anticipate that SLR Investment will post 1.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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