Orchard Funding Group (LON:ORCH) Trading 19.3% Higher Following Dividend Announcement

Shares of Orchard Funding Group plc (LON:ORCH) rose 19.3% on Monday following a dividend announcement from the company. The stock traded as high as GBX 34 ($0.44) and last traded at GBX 34 ($0.44). Approximately 214,796 shares were traded during trading, an increase of 916% from the average daily volume of 21,137 shares. The stock had previously closed at GBX 28.50 ($0.37).

The newly announced dividend which will be paid on Wednesday, June 25th. Shareholders of record on Thursday, June 12th will be issued a dividend of GBX 2 ($0.03) per share. This represents a yield of 7.02%. This is a positive change from Orchard Funding Group’s previous dividend of $1.00. The ex-dividend date of this dividend is Thursday, June 12th. Orchard Funding Group’s payout ratio is presently 4,285.71%.

Orchard Funding Group Stock Performance

The company has a 50-day moving average of GBX 28.97 and a 200-day moving average of GBX 27.36. The firm has a market capitalization of £9.15 million, a P/E ratio of 612.14 and a beta of -0.13. The company has a current ratio of 1.50, a quick ratio of 1.86 and a debt-to-equity ratio of 212.80.

Orchard Funding Group (LON:ORCH) last posted its quarterly earnings data on Monday, March 31st. The company reported GBX 7.15 ($0.09) EPS for the quarter. Orchard Funding Group had a net margin of 23.07% and a return on equity of 8.62%. On average, equities analysts anticipate that Orchard Funding Group plc will post 6.58 earnings per share for the current fiscal year.

About Orchard Funding Group

Orchard Funding Group plc, through its subsidiaries, provides insurance premium finance, professional fee funding, finance, and secured property lending services in the United Kingdom. It operates in two segments, Standard Lending and Toyota Products. The company offers credit to businesses and consumers for spreading the cost of their insurance premiums; and professional customized fee funding solutions to accounting firms, professionals, and small businesses to provide extended credit to their business clients.