Ellington Financial LLC (NYSE:EFC) announced a quarterly dividend on Thursday, November 1st, Wall Street Journal reports. Shareholders of record on Friday, November 30th will be paid a dividend of 0.41 per share by the financial services provider on Monday, December 17th. This represents a $1.64 dividend on an annualized basis and a yield of 10.35%. The ex-dividend date is Thursday, November 29th.
Ellington Financial has decreased its dividend by an average of 17.0% annually over the last three years. Ellington Financial has a dividend payout ratio of 115.5% indicating that 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 $1.59 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 103.1%.
Shares of EFC stock opened at $15.85 on Friday. The company has a market capitalization of $475.71 million, a price-to-earnings ratio of 14.68 and a beta of 0.40. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 3.12. Ellington Financial has a fifty-two week low of $14.12 and a fifty-two week high of $16.84.
In other news, CEO Laurence Penn acquired 30,000 shares of the firm’s stock in a transaction dated Monday, November 12th. The stock was purchased at an average price of $16.20 per share, for a total transaction of $486,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 11.10% of the company’s stock.
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About Ellington Financial
Ellington Financial LLC, through its subsidiary Ellington Financial Operating Partnership LLC, operates as a specialty finance company in the United States. The company acquires and manages mortgage-related assets, including residential mortgage-backed securities (RMBS) backed by prime jumbo, Alt-A, manufactured housing, and subprime residential mortgage loans; RMBS for which the principal and interest payments are guaranteed by the U.S.
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