StoneCastle Financial Corp (BANX) To Go Ex-Dividend on March 18th
StoneCastle Financial Corp (NASDAQ:BANX) declared a quarterly dividend on Friday, March 8th, NASDAQ reports. Shareholders of record on Tuesday, March 19th will be given a dividend of 0.38 per share by the investment management company on Tuesday, March 26th. This represents a $1.52 annualized dividend and a yield of 7.17%. The ex-dividend date of this dividend is Monday, March 18th.
StoneCastle Financial has decreased its dividend payment by an average of 2.9% per year over the last three years. StoneCastle Financial has a payout ratio of 93.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect StoneCastle Financial to earn $1.61 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 94.4%.
BANX stock opened at $21.21 on Friday. StoneCastle Financial has a 52-week low of $16.75 and a 52-week high of $24.92. The firm has a market cap of $138.86 million, a PE ratio of 12.93 and a beta of 0.47.
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StoneCastle Financial Company Profile
StoneCastle Financial Corp. is a closed ended balanced mutual fund launched and managed by StoneCastle Asset Management LLC. It invests in public equity markets of the United States. The fund invests in stocks of companies operating across the banking sector. It invests in dividend paying growth and value stocks of companies.
Further Reading: Beta
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