Runway Growth Finance Corp. (NASDAQ:RWAY) Announces Quarterly Dividend of $0.33

Runway Growth Finance Corp. (NASDAQ:RWAY) announced a quarterly dividend on Tuesday, May 5th. Stockholders of record on Monday, May 18th will be given a dividend of 0.33 per share on Tuesday, June 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 19.4%. The ex-dividend date is Monday, May 18th.

Runway Growth Finance has a dividend payout ratio of 85.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Runway Growth Finance to earn $1.42 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 93.0%.

Runway Growth Finance Price Performance

Runway Growth Finance stock opened at $6.81 on Thursday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market capitalization of $289.19 million, a price-to-earnings ratio of 7.40 and a beta of 0.64. Runway Growth Finance has a 1-year low of $6.36 and a 1-year high of $11.40. The business has a fifty day moving average price of $7.03 and a 200-day moving average price of $8.45.

Runway Growth Finance (NASDAQ:RWAY) last posted its quarterly earnings data on Thursday, March 12th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). The business had revenue of $30.04 million during the quarter, compared to analyst estimates of $31.60 million. Runway Growth Finance had a return on equity of 11.52% and a net margin of 24.79%. Equities research analysts forecast that Runway Growth Finance will post 1.42 EPS for the current fiscal year.

Hedge Funds Weigh In On Runway Growth Finance

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC purchased a new position in Runway Growth Finance in the 1st quarter worth $96,000. Sound Income Strategies LLC raised its stake in Runway Growth Finance by 10.3% in the 1st quarter. Sound Income Strategies LLC now owns 1,843,232 shares of the company’s stock worth $12,534,000 after acquiring an additional 171,872 shares during the last quarter. Virtu Financial LLC purchased a new position in Runway Growth Finance in the 4th quarter worth $108,000. Invesco Ltd. raised its stake in Runway Growth Finance by 12.0% in the 4th quarter. Invesco Ltd. now owns 31,114 shares of the company’s stock worth $278,000 after acquiring an additional 3,345 shares during the last quarter. Finally, nVerses Capital LLC purchased a new position in Runway Growth Finance in the 4th quarter worth $365,000. Hedge funds and other institutional investors own 64.61% of the company’s stock.

About Runway Growth Finance

Runway Growth Finance, Inc is a publicly traded business development company that provides customized debt and equity financing solutions to high‐growth, venture‐backed companies. The firm specializes in structuring senior secured loans, unitranche facilities, second‐lien financings, convertible notes and equity co‐investments designed to extend the cash runway for late‐stage companies. Runway’s flexible capital offerings are aimed at supporting technology, life sciences and other innovation‐driven sectors as they pursue growth initiatives and prepare for liquidity events.

Originally launched in 2017 under the name Saratoga Investment Corp., the company rebranded as Runway Growth Finance in 2020 following the acquisition of an established middle‐market credit manager.