Portman Ridge Finance Co. (PTMN) to Issue Quarterly Dividend of $0.47 on March 31st

Portman Ridge Finance Co. (NASDAQ:PTMN) declared a quarterly dividend on Thursday, March 13th, Wall Street Journal reports. Stockholders of record on Monday, March 24th will be given a dividend of 0.47 per share on Monday, March 31st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 12.28%. The ex-dividend date is Monday, March 24th.

Portman Ridge Finance has raised its dividend payment by an average of 4.5% annually over the last three years. Portman Ridge Finance has a dividend payout ratio of 74.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Portman Ridge Finance to earn $2.66 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 70.7%.

Portman Ridge Finance Trading Down 2.4 %

PTMN opened at $15.31 on Friday. Portman Ridge Finance has a one year low of $15.16 and a one year high of $20.84. The company has a market cap of $140.82 million, a P/E ratio of 41.38 and a beta of 1.02. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.14 and a current ratio of 3.14. The business’s 50-day simple moving average is $16.77 and its 200-day simple moving average is $17.31.

Portman Ridge Finance (NASDAQ:PTMN) last released its quarterly earnings data on Thursday, March 13th. The company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.08). Portman Ridge Finance had a net margin of 5.47% and a return on equity of 14.68%. The business had revenue of $14.40 million during the quarter, compared to analysts’ expectations of $15.14 million. As a group, equities research analysts expect that Portman Ridge Finance will post 2.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods dropped their price target on Portman Ridge Finance from $18.00 to $16.00 and set a “market perform” rating on the stock in a research note on Wednesday.

Portman Ridge Finance Company Profile

Portman Ridge Finance Corporation is a business development company specializing in investments in unitranche loans (including last out), first lien loans, second lien loans, subordinated debt, equity co-investment, mezzanine, buyout in middle market companies. It also makes acquisitions in businesses complementary to the firm's business.