Runway Growth Finance Corp. (NASDAQ:RWAY) Declares Quarterly Dividend of $0.33

Runway Growth Finance Corp. (NASDAQ:RWAY) announced a quarterly dividend on Wednesday, November 5th. Shareholders of record on Monday, November 17th will be given a dividend of 0.33 per share on Wednesday, December 3rd. This represents a c) dividend on an annualized basis and a yield of 13.6%. The ex-dividend date of this dividend is Monday, November 17th.

Runway Growth Finance has a payout ratio of 85.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Runway Growth Finance to earn $1.59 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 83.0%.

Runway Growth Finance Price Performance

NASDAQ RWAY traded down $0.07 during trading hours on Thursday, reaching $9.71. 164,658 shares of the stock traded hands, compared to its average volume of 300,837. The stock has a 50 day simple moving average of $10.19 and a two-hundred day simple moving average of $10.24. Runway Growth Finance has a 1 year low of $8.35 and a 1 year high of $11.73. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.59 and a quick ratio of 0.59. The company has a market cap of $351.70 million, a price-to-earnings ratio of 5.11 and a beta of 0.67.

Runway Growth Finance (NASDAQ:RWAY) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). Runway Growth Finance had a net margin of 51.03% and a return on equity of 11.86%. The firm had revenue of $35.15 million for the quarter, compared to analysts’ expectations of $34.27 million. On average, analysts predict that Runway Growth Finance will post 1.67 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of RWAY. M&T Bank Corp purchased a new position in shares of Runway Growth Finance in the first quarter worth about $176,000. Round Rock Advisors LLC increased its holdings in shares of Runway Growth Finance by 157.4% in the first quarter. Round Rock Advisors LLC now owns 90,622 shares of the company’s stock worth $938,000 after buying an additional 55,422 shares during the period. Allium Financial Advisors LLC purchased a new position in shares of Runway Growth Finance in the first quarter worth about $10,568,000. Norden Group LLC grew its stake in shares of Runway Growth Finance by 50.7% in the first quarter. Norden Group LLC now owns 30,453 shares of the company’s stock worth $315,000 after purchasing an additional 10,245 shares during the last quarter. Finally, Townsquare Capital LLC grew its stake in shares of Runway Growth Finance by 17.3% in the first quarter. Townsquare Capital LLC now owns 76,108 shares of the company’s stock worth $788,000 after purchasing an additional 11,235 shares during the last quarter. Hedge funds and other institutional investors own 64.61% of the company’s stock.

Runway Growth Finance Company Profile

Runway Growth Finance Corp. is a business development company specializing investments in senior-secured loans to late stage and growth companies. It prefers to make investments in companies engaged in the technology, life sciences, healthcare and information services, business services and select consumer services and products sectors.