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

Runway Growth Finance Corp. (NASDAQ:RWAY) declared a quarterly dividend on Wednesday, August 5th. Stockholders of record on Monday, August 17th will be paid a dividend of 0.33 per share on Monday, August 31st. This represents a c) dividend on an annualized basis and a dividend yield of 23.0%. The ex-dividend date is Monday, August 17th.

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 decline. Equities research analysts expect Runway Growth Finance to earn $1.25 per share next year, which means the company may not be able to cover its $1.32 annual dividend with an expected future payout ratio of 105.6%.

Runway Growth Finance Trading Down 0.7%

NASDAQ:RWAY opened at $5.75 on Thursday. The company has a market capitalization of $244.20 million, a PE ratio of -63.89 and a beta of 0.66. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 1.01. Runway Growth Finance has a 52-week low of $5.19 and a 52-week high of $11.20. The stock has a fifty day simple moving average of $5.69 and a 200-day simple moving average of $6.86.

Runway Growth Finance (NASDAQ:RWAY) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.02). The business had revenue of $29.45 million during the quarter, compared to analyst estimates of $29.46 million. Runway Growth Finance had a negative net margin of 2.00% and a positive return on equity of 10.87%. On average, equities research analysts expect that Runway Growth Finance will post 1.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RWAY. Key Capital Management INC acquired a new stake in shares of Runway Growth Finance during the 4th quarter worth about $29,000. Kestra Advisory Services LLC acquired a new position in shares of Runway Growth Finance in the fourth quarter valued at approximately $42,000. Raymond James Financial Inc. acquired a new position in shares of Runway Growth Finance in the second quarter valued at approximately $51,000. Osaic Holdings Inc. lifted its stake in shares of Runway Growth Finance by 92.6% during the second quarter. Osaic Holdings Inc. now owns 5,515 shares of the company’s stock valued at $59,000 after buying an additional 2,651 shares during the period. Finally, Tower Research Capital LLC TRC lifted 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 buying an additional 5,955 shares during the period. 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.