SLR Investment Corp. (NASDAQ:SLRC) Announces Quarterly Dividend of $0.41

SLR Investment Corp. (NASDAQ:SLRC) announced a quarterly dividend on Wednesday, May 8th, Zacks reports. Shareholders of record on Thursday, June 13th will be given a dividend of 0.41 per share by the financial services provider on Thursday, June 27th. This represents a $1.64 dividend on an annualized basis and a yield of 10.22%. The ex-dividend date of this dividend is Thursday, June 13th.

SLR Investment has a dividend payout ratio of 102.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect SLR Investment to earn $1.60 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 102.5%.

SLR Investment Trading Up 0.3 %

NASDAQ:SLRC traded up $0.05 during midday trading on Friday, hitting $16.05. 17,250 shares of the company traded hands, compared to its average volume of 181,485. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.19. The firm’s fifty day moving average is $15.26 and its 200-day moving average is $15.09. SLR Investment has a 12-month low of $13.48 and a 12-month high of $16.07. The firm has a market capitalization of $875.61 million, a P/E ratio of 11.43 and a beta of 1.10.

SLR Investment (NASDAQ:SLRC) last announced its quarterly earnings results on Tuesday, February 27th. The financial services provider reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. SLR Investment had a net margin of 33.31% and a return on equity of 9.36%. The firm had revenue of $59.79 million during the quarter, compared to analysts’ expectations of $59.00 million. On average, sell-side analysts predict that SLR Investment will post 1.73 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SLRC. B. Riley boosted their target price on shares of SLR Investment from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, February 29th. JPMorgan Chase & Co. lowered their target price on shares of SLR Investment from $15.50 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat.com, SLR Investment has an average rating of “Hold” and a consensus price target of $14.25.

Insider Activity at SLR Investment

In other news, insider Michael S. Gross bought 22,636 shares of SLR Investment stock in a transaction dated Friday, March 8th. The stock was acquired at an average cost of $15.74 per share, with a total value of $356,290.64. Following the acquisition, the insider now owns 3,804,860 shares of the company’s stock, valued at $59,888,496.40. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Michael S. Gross acquired 46,700 shares of SLR Investment stock in a transaction on Wednesday, March 6th. The stock was purchased at an average cost of $15.44 per share, with a total value of $721,048.00. Following the purchase, the insider now directly owns 3,735,524 shares in the company, valued at $57,676,490.56. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael S. Gross purchased 22,636 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were bought at an average cost of $15.74 per share, with a total value of $356,290.64. Following the completion of the acquisition, the insider now owns 3,804,860 shares of the company’s stock, valued at $59,888,496.40. The disclosure for this purchase can be found here. Insiders have purchased 109,336 shares of company stock valued at $1,680,539 in the last ninety days. Insiders own 8.20% of the company’s stock.

About SLR Investment

SLR Investment Corp. is a business development company specializing in secured debt (first lien unitranche and second lien), subordinated (unsecured) debt, minority equity, leveraged buyouts, acquisitions, recapitalizations, general refinancing, growth capital and strategic income-oriented control equity investments in leveraged middle market companies.