WhiteHorse Finance Inc (NASDAQ:WHF) Announces Quarterly Dividend of $0.36

WhiteHorse Finance Inc (NASDAQ:WHF) announced a quarterly dividend on Monday, June 10th, Zacks reports. Shareholders of record on Thursday, June 20th will be given a dividend of 0.355 per share by the investment management company on Wednesday, July 3rd. This represents a $1.42 annualized dividend and a yield of 10.03%. The ex-dividend date of this dividend is Wednesday, June 19th.

WhiteHorse Finance has a payout ratio of 95.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect WhiteHorse Finance to earn $1.57 per share next year, which means the company should continue to be able to cover its $1.42 annual dividend with an expected future payout ratio of 90.4%.

Shares of NASDAQ:WHF traded up $0.13 during midday trading on Tuesday, reaching $14.16. 1,672 shares of the company’s stock were exchanged, compared to its average volume of 105,893. WhiteHorse Finance has a 12 month low of $11.89 and a 12 month high of $15.30. The stock has a market cap of $287.03 million, a price-to-earnings ratio of 9.40 and a beta of 0.68. The business has a 50 day moving average price of $14.35. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.51 and a quick ratio of 1.51.

WhiteHorse Finance (NASDAQ:WHF) last posted its quarterly earnings data on Wednesday, May 8th. The investment management company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.02. The firm had revenue of $15.92 million during the quarter, compared to analysts’ expectations of $15.46 million. WhiteHorse Finance had a net margin of 80.64% and a return on equity of 9.50%. As a group, equities research analysts expect that WhiteHorse Finance will post 1.49 EPS for the current year.

In related news, major shareholder Anthony Tamer sold 2,350,000 shares of WhiteHorse Finance stock in a transaction on Friday, June 14th. The shares were sold at an average price of $14.00, for a total value of $32,900,000.00. Following the completion of the sale, the insider now owns 6,026 shares of the company’s stock, valued at approximately $84,364. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.20% of the company’s stock.

A number of analysts have recently commented on the stock. Zacks Investment Research raised shares of WhiteHorse Finance from a “sell” rating to a “hold” rating in a research report on Friday, March 8th. BidaskClub downgraded shares of WhiteHorse Finance from a “buy” rating to a “hold” rating in a report on Monday, June 10th. Finally, Raymond James began coverage on shares of WhiteHorse Finance in a report on Tuesday. They issued an “outperform” rating and a $16.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $14.63.

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WhiteHorse Finance Company Profile

WhiteHorse Finance, Inc is a managed, non-diversified, closed-end management investment company which operates as a direct lender targeting debt investments in privately held, lower middle market companies located in the United States. Its investment objective is to generate returns primarily by originating and investing in senior secured loans, including first lien and second lien facilities, to performing lower middle market companies across a range of industries that typically carry a floating interest rate based on the London Interbank Offered Rate.

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Dividend History for WhiteHorse Finance (NASDAQ:WHF)

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