Portman Ridge Finance Co. (PTMN) To Go Ex-Dividend on November 19th

Portman Ridge Finance Co. (NASDAQ:PTMN) declared a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Investors of record on Tuesday, November 19th will be given a dividend of 0.69 per share on Friday, November 29th. This represents a $2.76 dividend on an annualized basis and a yield of 15.42%. The ex-dividend date is Tuesday, November 19th.

Portman Ridge Finance has increased its dividend by an average of 4.6% per year over the last three years. Portman Ridge Finance has a payout ratio of 105.7% meaning 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 Portman Ridge Finance to earn $2.66 per share next year, which means the company may not be able to cover its $2.76 annual dividend with an expected future payout ratio of 103.8%.

Portman Ridge Finance Price Performance

Shares of PTMN opened at $17.90 on Friday. The business’s 50-day moving average is $18.30 and its two-hundred day moving average is $19.00. The company has a market capitalization of $164.86 million, a P/E ratio of 48.38 and a beta of 1.02. Portman Ridge Finance has a fifty-two week low of $16.27 and a fifty-two week high of $20.84. The company has a debt-to-equity ratio of 1.41, a quick ratio of 4.40 and a current ratio of 3.14.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods dropped their target price on Portman Ridge Finance from $19.00 to $18.00 and set a “market perform” rating on the stock in a report on Thursday.

About Portman Ridge Finance

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.