Portman Ridge Finance Co. (NASDAQ:PTMN) Declares $0.47 Quarterly Dividend

Portman Ridge Finance Co. (NASDAQ:PTMN) announced a quarterly dividend on Friday, March 14th, Wall Street Journal reports. Investors of record on Monday, March 24th will be paid a dividend of 0.47 per share on Monday, March 31st. This represents a $1.88 dividend on an annualized basis and a yield of 11.91%. The ex-dividend date is Monday, March 24th.

Portman Ridge Finance has raised its dividend by an average of 4.5% per year over the last three years. Portman Ridge Finance has a dividend payout ratio of 110.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Portman Ridge Finance to earn $2.66 per share next year, which means the company may not be able to cover its $2.76 annual dividend with an expected future payout ratio of 103.8%.

Portman Ridge Finance Trading Down 4.0 %

Shares of PTMN opened at $15.79 on Friday. Portman Ridge Finance has a 1-year low of $15.16 and a 1-year high of $20.84. The company has a 50-day moving average of $16.85 and a 200 day moving average of $17.41. The firm has a market capitalization of $145.47 million, a price-to-earnings ratio of 42.68 and a beta of 1.02. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.14 and a quick ratio of 3.14.

Portman Ridge Finance (NASDAQ:PTMN) last announced its quarterly earnings data on Thursday, March 13th. The company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.08). Portman Ridge Finance had a net margin of 5.47% and a return on equity of 14.68%. The company had revenue of $14.40 million for the quarter, compared to the consensus estimate of $15.14 million. On average, research analysts expect that Portman Ridge Finance will post 2.64 EPS for the current year.

Portman Ridge Finance Company Profile

Portman Ridge Finance Corporation is a business development company specializing in investments in unitranche loans (including last out), first lien loans, second lien loans, subordinated debt, equity co-investment, mezzanine, buyout in middle market companies. It also makes acquisitions in businesses complementary to the firm's business.