New Mountain Finance Corp. (NYSE:NMFC) announced a quarterly dividend on Thursday, March 1st, Wall Street Journal reports. Stockholders of record on Thursday, March 15th will be paid a dividend of 0.34 per share by the investment management company on Thursday, March 29th. This represents a $1.36 annualized dividend and a dividend yield of 10.11%. The ex-dividend date is Wednesday, March 14th.
New Mountain Finance has a dividend payout ratio of 99.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect New Mountain Finance to earn $1.40 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 97.1%.
Shares of New Mountain Finance (NYSE NMFC) opened at $13.45 on Tuesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 3.41 and a current ratio of 3.41. The firm has a market capitalization of $1,009.94, a PE ratio of 9.78 and a beta of 0.58. New Mountain Finance has a 52 week low of $12.05 and a 52 week high of $15.00.
In other New Mountain Finance news, Director Kurt Wolfgruber bought 3,000 shares of the stock in a transaction dated Friday, December 15th. The stock was bought at an average cost of $13.93 per share, for a total transaction of $41,790.00. Following the completion of the purchase, the director now directly owns 42,905 shares of the company’s stock, valued at $597,666.65. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Adam Weinstein purchased 16,255 shares of the firm’s stock in a transaction that occurred on Monday, March 5th. The stock was purchased at an average price of $13.14 per share, with a total value of $213,590.70. Following the completion of the purchase, the chief accounting officer now directly owns 72,949 shares of the company’s stock, valued at approximately $958,549.86. The disclosure for this purchase can be found here. Insiders have bought 250,355 shares of company stock valued at $3,336,777 over the last 90 days. Insiders own 9.73% of the company’s stock.
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About New Mountain Finance
New Mountain Finance Corporation is a closed-end, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation through the sourcing and origination of debt securities at all levels of the capital structure, including first and second lien debt, notes, bonds and mezzanine securities.
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