THL Credit, Inc. (NASDAQ:TCRD) declared a quarterly dividend on Tuesday, August 6th, NASDAQ reports. Shareholders of record on Monday, September 16th will be paid a dividend of 0.21 per share by the investment management company on Monday, September 30th. This represents a $0.84 annualized dividend and a yield of 12.03%. The ex-dividend date is Friday, September 13th.
THL Credit has decreased its dividend payment by an average of 7.4% annually over the last three years. THL Credit has a dividend payout ratio of 73.0% meaning its dividend is sufficiently covered by earnings. Analysts expect THL Credit to earn $0.84 per share next year, which means the company may not be able to cover its $0.84 annual dividend with an expected future payout ratio of 100.0%.
Shares of NASDAQ:TCRD traded up $0.03 on Wednesday, hitting $6.98. 2,767 shares of the company’s stock were exchanged, compared to its average volume of 64,702. THL Credit has a 12 month low of $5.80 and a 12 month high of $8.75. The stock has a market capitalization of $216.25 million, a price-to-earnings ratio of 6.52 and a beta of 1.04. The business’s 50 day simple moving average is $6.65 and its two-hundred day simple moving average is $6.69. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.18 and a quick ratio of 0.18.
A number of equities research analysts recently weighed in on TCRD shares. Zacks Investment Research upgraded shares of THL Credit from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. ValuEngine raised shares of THL Credit from a “sell” rating to a “hold” rating in a research note on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. THL Credit currently has an average rating of “Hold” and an average price target of $7.00.
About THL Credit
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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