Portman Ridge Finance Co. (PTMN) to Issue Quarterly Dividend of $0.69 on May 31st

Portman Ridge Finance Co. (NASDAQ:PTMNGet Free Report) declared a quarterly dividend on Wednesday, May 8th, Zacks reports. Stockholders of record on Tuesday, May 21st will be given a dividend of 0.69 per share on Friday, May 31st. This represents a $2.76 dividend on an annualized basis and a dividend yield of 13.47%. The ex-dividend date is Monday, May 20th.

Portman Ridge Finance has raised its dividend by an average of 4.6% annually over the last three years and has raised its dividend every year for the last 4 years. Portman Ridge Finance has a dividend payout ratio of 98.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect Portman Ridge Finance to earn $2.89 per share next year, which means the company should continue to be able to cover its $2.76 annual dividend with an expected future payout ratio of 95.5%.

Portman Ridge Finance Stock Performance

Portman Ridge Finance stock opened at $20.49 on Friday. The stock has a market cap of $190.76 million, a PE ratio of 12.27 and a beta of 0.96. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 1.37. Portman Ridge Finance has a 12-month low of $16.27 and a 12-month high of $21.20. The business’s 50-day moving average price is $19.27 and its two-hundred day moving average price is $18.38.

Portman Ridge Finance (NASDAQ:PTMNGet Free Report) last announced its quarterly earnings results on Wednesday, March 13th. The company reported $1.19 earnings per share (EPS) for the quarter. The company had revenue of $17.79 million for the quarter, compared to analyst estimates of $18.56 million. Portman Ridge Finance had a net margin of 21.81% and a return on equity of 15.21%. As a group, analysts expect that Portman Ridge Finance will post 2.72 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PTMN. Keefe, Bruyette & Woods lowered their price target on shares of Portman Ridge Finance from $20.50 to $20.00 and set a “market perform” rating for the company in a report on Monday, March 18th. Oppenheimer restated a “market perform” rating and set a $20.00 price objective on shares of Portman Ridge Finance in a research report on Friday, March 15th.

Get Our Latest Analysis on Portman Ridge Finance

Portman Ridge Finance Company Profile

(Get Free Report)

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.

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Dividend History for Portman Ridge Finance (NASDAQ:PTMN)

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