Ellington Financial LLC (NYSE:EFC) declared a quarterly dividend on Tuesday, February 6th, Zacks reports. Investors of record on Thursday, March 1st will be paid a dividend of 0.41 per share by the financial services provider on Thursday, March 15th. This represents a $1.64 annualized dividend and a yield of 10.92%. The ex-dividend date is Wednesday, February 28th.
Ellington Financial has decreased its dividend by an average of 17.0% per year over the last three years. Ellington Financial has a payout ratio of 153.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Ellington Financial to earn $1.56 per share next year, which means the company may not be able to cover its $1.64 annual dividend with an expected future payout ratio of 105.1%.
Ellington Financial (NYSE:EFC) opened at $15.02 on Tuesday. The firm has a market cap of $471.02, a P/E ratio of 13.74 and a beta of 0.36. The company has a current ratio of 3.90, a quick ratio of 3.90 and a debt-to-equity ratio of 1.91. Ellington Financial has a 52-week low of $14.19 and a 52-week high of $17.00.
Ellington Financial declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, February 13th that allows the company to buyback 1,550,000 outstanding shares. This buyback authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.
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Ellington Financial Company Profile
Ellington Financial LLC is a specialty finance company that acquires and manages mortgage-related and other financial assets. The Company’s targeted assets include residential mortgage-backed securities (RMBS), backed by loans for which the principal and interest payments are not guaranteed by a United States Government agency or a United States Government-sponsored entity, collectively referred to as non-Agency RMBS; RMBS for which the principal and interest payments are guaranteed by the United States government agency or the United States government-sponsored entity (Agency RMBS); consumer loans and asset-backed securities (ABS) backed by consumer loans; commercial mortgage-backed securities (CMBS) commercial mortgage loans and other commercial real estate debt; residential mortgage loans; collateralized loan obligations (CLOs); corporate debt and equity, including distressed debt and equity, and mortgage-related derivatives.
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