THL Credit, Inc. (NASDAQ:TCRD) declared a quarterly dividend on Thursday, March 7th, Wall Street Journal reports. Stockholders of record on Wednesday, March 20th will be paid a dividend of 0.21 per share by the investment management company on Friday, March 29th. This represents a $0.84 annualized dividend and a dividend yield of 12.50%. The ex-dividend date of this dividend is Tuesday, March 19th.
THL Credit has decreased its dividend by an average of 7.4% per year over the last three years. THL Credit has a payout ratio of 73.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect THL Credit to earn $0.92 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 91.3%.
Shares of THL Credit stock opened at $6.72 on Thursday. THL Credit has a 52 week low of $5.80 and a 52 week high of $8.75. The stock has a market capitalization of $219.57 million, a PE ratio of 6.28 and a beta of 1.16. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.36.
Several brokerages have recently commented on TCRD. Zacks Investment Research downgraded THL Credit from a “hold” rating to a “sell” rating in a research report on Wednesday. ValuEngine upgraded THL Credit from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 15th. Raymond James upgraded THL Credit from an “underperform” rating to a “market perform” rating in a research report on Monday. Finally, National Securities lowered their price objective on THL Credit from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Monday. Three investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. THL Credit has an average rating of “Sell” and a consensus target price of $8.63.
THL Credit Company Profile
THL Credit, Inc is a business development company specializing in direct and fund of fund investments. The fund seeks to invest in debt and equity securities of middle market companies. It seeks to invest in PIPES, growth, acquisition, market or product expansion, recapitalization, mature, and change of control transactions in both sponsored and unsponsored issuers.
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