Solar Senior Capital Ltd (NASDAQ:SUNS) declared a monthly dividend on Friday, December 7th, Wall Street Journal reports. Stockholders of record on Thursday, December 20th will be paid a dividend of 0.1175 per share by the asset manager on Friday, January 4th. This represents a $1.41 annualized dividend and a dividend yield of 9.06%. The ex-dividend date is Wednesday, December 19th.
Solar Senior Capital has a dividend payout ratio of 100.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Solar Senior Capital to earn $1.40 per share next year, which means the company may not be able to cover its $1.41 annual dividend with an expected future payout ratio of 100.7%.
Shares of SUNS stock opened at $15.56 on Friday. Solar Senior Capital has a 12-month low of $14.90 and a 12-month high of $18.35. The firm has a market capitalization of $243.33 million, a PE ratio of 11.04 and a beta of 0.55. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.11 and a quick ratio of 0.11.
Solar Senior Capital (NASDAQ:SUNS) last announced its quarterly earnings results on Monday, November 5th. The asset manager reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.02. Solar Senior Capital had a net margin of 58.33% and a return on equity of 8.41%. The company had revenue of $11.01 million during the quarter, compared to analyst estimates of $10.10 million. Equities analysts expect that Solar Senior Capital will post 1.41 EPS for the current fiscal year.
Several equities analysts have recently issued reports on SUNS shares. BidaskClub raised shares of Solar Senior Capital from a “sell” rating to a “hold” rating in a report on Thursday, November 22nd. Zacks Investment Research lowered shares of Solar Senior Capital from a “hold” rating to a “sell” rating in a report on Friday, November 9th.
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About Solar Senior Capital
Solar Senior Capital Ltd. is a business development company specializing in investments in leveraged, middle-market companies in the United States. The fund invests in the form of senior secured loans, including first lien, unitranche, and second lien debt instruments. It does not invest in start-up companies or companies having speculative business plans.
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