Runway Growth Finance Corp. (RWAY) to Issue Quarterly Dividend of $0.33 on June 2nd

Runway Growth Finance Corp. (NASDAQ:RWAY) declared a quarterly dividend on Tuesday, May 5th. Investors of record on Monday, May 18th will be given a dividend of 0.33 per share on Tuesday, June 2nd. This represents a c) annualized dividend and a yield of 19.6%. The ex-dividend date is Monday, May 18th.

Runway Growth Finance has a 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 tumble. Analysts expect Runway Growth Finance to earn $1.42 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 93.0%.

Runway Growth Finance Stock Down 1.0%

Shares of Runway Growth Finance stock opened at $6.75 on Thursday. Runway Growth Finance has a twelve month low of $6.36 and a twelve month high of $11.40. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.93. The company’s 50 day moving average is $7.03 and its 200 day moving average is $8.45. The company has a market cap of $286.43 million, a price-to-earnings ratio of 7.39 and a beta of 0.64.

Runway Growth Finance (NASDAQ:RWAY) last announced its earnings results on Thursday, March 12th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). Runway Growth Finance had a net margin of 24.79% and a return on equity of 11.52%. The company had revenue of $30.04 million for the quarter, compared to analysts’ expectations of $31.60 million. Research analysts anticipate that Runway Growth Finance will post 1.42 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RWAY. Key Capital Management INC bought a new stake in shares of Runway Growth Finance during the fourth quarter valued at approximately $29,000. Kestra Advisory Services LLC bought a new position in Runway Growth Finance during the 4th quarter worth about $42,000. Raymond James Financial Inc. purchased a new position in Runway Growth Finance during the 2nd quarter valued at about $51,000. Osaic Holdings Inc. raised its holdings in shares of Runway Growth Finance by 92.6% in the 2nd quarter. Osaic Holdings Inc. now owns 5,515 shares of the company’s stock valued at $59,000 after purchasing an additional 2,651 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Runway Growth Finance by 74,437.5% during the second quarter. Tower Research Capital LLC TRC now owns 5,963 shares of the company’s stock valued at $64,000 after purchasing an additional 5,955 shares in the last quarter. Hedge funds and other institutional investors 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.