Runway Growth Finance Corp. (RWAY) to Issue Quarterly Dividend of $0.33 on March 24th

Runway Growth Finance Corp. (NASDAQ:RWAY) announced a quarterly dividend on Wednesday, February 25th. Investors 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 17.0%. The ex-dividend date of this dividend is Tuesday, March 10th.

Runway Growth Finance has a dividend 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 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 Stock Performance

Shares of RWAY stock traded down $0.45 during midday trading on Friday, hitting $7.75. 676,077 shares of the company were exchanged, compared to its average volume of 362,989. Runway Growth Finance has a 52 week low of $7.74 and a 52 week high of $11.57. The firm has a market capitalization of $280.01 million, a P/E ratio of 5.27 and a beta of 0.68. The firm’s 50 day moving average price is $8.94 and its two-hundred day moving average price is $9.61. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.54 and a current ratio of 0.54.

Hedge Funds Weigh In On Runway Growth Finance

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada lifted its holdings in shares of Runway Growth Finance by 52.3% in the 1st quarter. Royal Bank of Canada now owns 21,252 shares of the company’s stock worth $220,000 after purchasing an additional 7,299 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in shares of Runway Growth Finance during the second quarter valued at about $500,000. Franklin Resources Inc. increased its position in shares of Runway Growth Finance by 0.4% during the second quarter. Franklin Resources Inc. now owns 461,975 shares of the company’s stock worth $4,957,000 after acquiring an additional 1,973 shares in the last quarter. Virtus Investment Advisers LLC raised its holdings in shares of Runway Growth Finance by 5.3% in the 2nd quarter. Virtus Investment Advisers LLC now owns 122,730 shares of the company’s stock worth $1,317,000 after acquiring an additional 6,231 shares during the last quarter. Finally, PharVision Advisers LLC lifted its position in Runway Growth Finance by 24.2% in the 2nd quarter. PharVision Advisers LLC now owns 20,974 shares of the company’s stock valued at $225,000 after acquiring an additional 4,080 shares in the last quarter. Institutional investors and hedge funds own 64.61% of the company’s stock.

About Runway Growth Finance

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.