Ellington Financial Inc (NYSE:EFC) declared a monthly dividend on Monday, July 8th, Zacks reports. Shareholders of record on Wednesday, July 31st will be given a dividend of 0.14 per share by the financial services provider on Monday, August 26th. This represents a $1.68 dividend on an annualized basis and a yield of 9.27%. The ex-dividend date is Tuesday, July 30th.

Ellington Financial has decreased its dividend by an average of 12.5% annually over the last three years. Ellington Financial has a payout ratio of 118.3% meaning 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 Ellington Financial to earn $1.68 per share next year, which means the company may not be able to cover its $1.68 annual dividend with an expected future payout ratio of 100.0%.

EFC stock traded down $0.01 during midday trading on Wednesday, reaching $18.12. 210 shares of the company were exchanged, compared to its average volume of 208,504. The company has a debt-to-equity ratio of 3.43, a current ratio of 70.32 and a quick ratio of 70.32. The stock’s 50-day simple moving average is $17.97. Ellington Financial has a one year low of $14.69 and a one year high of $18.49. The firm has a market capitalization of $538.10 million, a price-to-earnings ratio of 12.86 and a beta of 0.46.

Ellington Financial (NYSE:EFC) last released its quarterly earnings data on Tuesday, May 7th. The financial services provider reported $0.45 EPS for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.08. Ellington Financial had a net margin of 28.85% and a return on equity of 8.19%. The firm had revenue of $36.02 million during the quarter, compared to analysts’ expectations of $37.71 million. On average, research analysts expect that Ellington Financial will post 1.69 EPS for the current year.

A number of equities analysts have commented on EFC shares. Maxim Group reaffirmed a “buy” rating and set a $20.00 price objective on shares of Ellington Financial in a research report on Thursday, July 4th. Zacks Investment Research raised shares of Ellington Financial from a “sell” rating to a “hold” rating in a research report on Friday, April 12th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $19.20.

Ellington Financial Company Profile

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.

Further Reading: What is the Ex-Dividend Date in Investing?

Dividend History for Ellington Financial (NYSE:EFC)

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