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

SLR Investment Corp. (NASDAQ:SLRC) announced a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Shareholders of record on Friday, December 13th will be paid a dividend of 0.41 per share by the financial services provider on Friday, December 27th. This represents a $1.64 annualized dividend and a yield of 10.31%. The ex-dividend date of this dividend is Friday, December 13th.

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 $1.62 per share next year, which means the company may not be able to cover its $1.64 annual dividend with an expected future payout ratio of 101.2%.

SLR Investment Trading Up 3.3 %

Shares of SLR Investment stock opened at $15.90 on Friday. The stock has a market cap of $867.50 million, a PE ratio of 8.98 and a beta of 1.12. The firm has a fifty day moving average price of $15.30 and a 200 day moving average price of $15.66. SLR Investment has a 1 year low of $14.41 and a 1 year high of $16.77. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.04 and a quick ratio of 1.04.

SLR Investment (NASDAQ:SLRC) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.01. The business had revenue of $58.98 million during the quarter, compared to analysts’ expectations of $58.23 million. SLR Investment had a return on equity of 9.73% and a net margin of 40.89%. During the same quarter in the previous year, the firm posted $0.42 EPS. Equities research analysts predict that SLR Investment will post 1.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

SLRC has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut shares of SLR Investment from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $15.50 to $15.00 in a research note on Monday, July 29th. StockNews.com started coverage on shares of SLR Investment in a report on Tuesday, July 23rd. They issued a “hold” rating for the company. Finally, Wells Fargo & Company decreased their price objective on shares of SLR Investment from $13.00 to $12.50 and set an “underweight” rating for the company in a research report on Tuesday, October 29th. Two analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $15.13.

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.