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

Runway Growth Finance Corp. (NASDAQ:RWAY) announced a quarterly dividend on Thursday, February 26th. Shareholders of record on Tuesday, March 10th will be given a dividend of 0.33 per share on Tuesday, March 24th. This represents a c) dividend on an annualized basis and a yield of 16.1%. The ex-dividend date is Tuesday, March 10th.

Runway Growth Finance has a payout ratio of 85.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research 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

Shares of Runway Growth Finance stock traded up $0.09 during trading on Thursday, reaching $8.21. 492,929 shares of the company’s stock were exchanged, compared to its average volume of 397,019. The company has a market cap of $296.45 million, a P/E ratio of 5.01 and a beta of 0.68. Runway Growth Finance has a 1-year low of $7.99 and a 1-year high of $11.57. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.54 and a current ratio of 0.54. The firm’s 50-day moving average price is $8.94 and its 200 day moving average price is $9.61.

Runway Growth Finance Company Profile

Runway Growth Finance, Inc is a publicly traded business development company that provides customized debt and equity financing solutions to high‐growth, venture‐backed companies. The firm specializes in structuring senior secured loans, unitranche facilities, second‐lien financings, convertible notes and equity co‐investments designed to extend the cash runway for late‐stage companies. Runway’s flexible capital offerings are aimed at supporting technology, life sciences and other innovation‐driven sectors as they pursue growth initiatives and prepare for liquidity events.

Originally launched in 2017 under the name Saratoga Investment Corp., the company rebranded as Runway Growth Finance in 2020 following the acquisition of an established middle‐market credit manager.