Monroe Capital Corporation to Issue Quarterly Dividend of $0.18 (NASDAQ:MRCC)

Monroe Capital Corporation (NASDAQ:MRCC) announced a quarterly dividend on Monday, December 15th. Shareholders of record on Tuesday, December 23rd will be paid a dividend of 0.18 per share by the financial services provider on Wednesday, December 31st. This represents a c) annualized dividend and a yield of 11.1%. The ex-dividend date is Tuesday, December 23rd.

Monroe Capital has decreased its dividend by an average of 0.1%annually over the last three years. Monroe Capital has a dividend payout ratio of 123.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Monroe Capital to earn $1.07 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 93.5%.

Monroe Capital Stock Down 2.9%

Shares of NASDAQ MRCC opened at $6.47 on Tuesday. The company has a debt-to-equity ratio of 1.22, a current ratio of 5.87 and a quick ratio of 5.87. The stock has a market capitalization of $140.20 million, a P/E ratio of -34.05 and a beta of 0.72. The firm’s 50 day simple moving average is $6.66 and its two-hundred day simple moving average is $6.73. Monroe Capital has a one year low of $5.86 and a one year high of $8.85.

Monroe Capital (NASDAQ:MRCC) last released its earnings results on Wednesday, November 5th. The financial services provider reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.06). Monroe Capital had a negative net margin of 9.58% and a positive return on equity of 8.49%. The company had revenue of $6.87 million during the quarter, compared to the consensus estimate of $8.84 million. As a group, analysts expect that Monroe Capital will post 1.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Monroe Capital

Several hedge funds have recently made changes to their positions in MRCC. Sunbelt Securities Inc. raised its holdings in Monroe Capital by 165.0% in the third quarter. Sunbelt Securities Inc. now owns 124,843 shares of the financial services provider’s stock worth $876,000 after purchasing an additional 77,725 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of Monroe Capital in the 3rd quarter worth about $37,000. CANADA LIFE ASSURANCE Co increased its stake in shares of Monroe Capital by 42.7% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 29,052 shares of the financial services provider’s stock worth $201,000 after acquiring an additional 8,691 shares in the last quarter. Susquehanna International Group LLP lifted its position in Monroe Capital by 16.0% during the 3rd quarter. Susquehanna International Group LLP now owns 93,069 shares of the financial services provider’s stock valued at $653,000 after acquiring an additional 12,859 shares during the period. Finally, Quarry LP bought a new stake in Monroe Capital during the third quarter worth about $414,000.

Monroe Capital Company Profile

Monroe Capital Corporation is a business development company specializing in customized financing solutions in senior, unitranche and junior secured debt, subordinated debt financing and to a lesser extent, unsecured debt and equity, including equity co-investments in preferred and common stock and warrants.