New Mountain Finance Corporation (NYSE:NMFC) declared a quarterly dividend on Wednesday, August 9th, Wall Street Journal reports. Stockholders of record on Friday, September 15th will be given a dividend of 0.34 per share by the investment management company on Friday, September 29th. This represents a $1.36 annualized dividend and a dividend yield of 9.68%. The ex-dividend date is Thursday, September 14th.

New Mountain Finance Corporation has a dividend payout ratio of 100.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect New Mountain Finance Corporation to earn $1.37 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 99.3%.

New Mountain Finance Corporation (NYSE:NMFC) opened at 14.00 on Wednesday. The stock’s 50 day moving average is $14.27 and its 200 day moving average is $14.53. New Mountain Finance Corporation has a 12-month low of $13.05 and a 12-month high of $15.00.

New Mountain Finance Corporation (NYSE:NMFC) last released its quarterly earnings data on Tuesday, August 8th. The investment management company reported $0.34 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.34. New Mountain Finance Corporation had a net margin of 65.22% and a return on equity of 10.15%. The firm had revenue of $50.02 million for the quarter, compared to the consensus estimate of $47.66 million. Equities analysts expect that New Mountain Finance Corporation will post $1.36 EPS for the current fiscal year.

A number of equities analysts have recently issued reports on the stock. BidaskClub downgraded shares of New Mountain Finance Corporation from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. Keefe, Bruyette & Woods set a $15.00 target price on shares of New Mountain Finance Corporation and gave the company a “hold” rating in a research report on Wednesday, May 31st. Finally, Zacks Investment Research raised shares of New Mountain Finance Corporation from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research report on Wednesday, July 12th.

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About New Mountain Finance Corporation

New Mountain Finance Corporation is a closed-end, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation through the sourcing and origination of debt securities at all levels of the capital structure, including first and second lien debt, notes, bonds and mezzanine securities.

Dividend History for New Mountain Finance Corporation (NYSE:NMFC)

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