MidCap Financial Investment Co. (NASDAQ:MFIC) expects dividend increase – $0.37 per share
MidCap Financial Investment Co. (NASDAQ:MFIC – Get Rating) declared a quarterly dividend on Thursday, November 3, Zacks reports. Shareholders of record on Monday, December 19 will receive a dividend of 0.37 per share on Thursday, January 5. This represents an annualized dividend of $1.48 and a yield of 12.48%. The ex-dividend date is Friday, December 16. This is a positive change from MidCap Financial Investment’s previous quarterly dividend of $0.32.
MidCap Financial Investment has decreased its dividend payout by an average of 7.2% per year over the past three years and has increased its dividend each year for the past 1 years. MidCap Financial Investment has a payout ratio of 79.0%, indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Stock analysts expect MidCap Financial Investment to earn $1.54 per share next year, meaning the company should continue to be able to cover its annual dividend of $1.28 with a ratio of expected future payout of 83.1%.
MidCap Financial Investment Price Performance
NASDAQ:MFIC shares traded at $0.80 during Friday’s trading, hitting $11.86. 413,728 shares were traded, against an average volume of 203,321. The stock has a market capitalization of $753.35 million, a price-earnings ratio of 16.25 and a beta of 1.59. The stock has a fifty-day moving average price of $11.48. MidCap Financial Investment has a 1 year low of $10.01 and a 1 year high of $13.99. The company has a debt ratio of 1.62, a quick ratio of 1.56 and a current ratio of 1.56.
MidCap Financial Investment (NASDAQ:MFIC – Get Rating) last reported quarterly earnings data on Tuesday, August 2. The company reported earnings per share (EPS) of $0.37 for the quarter, beating consensus analyst estimates of $0.34 by $0.03. The company posted revenue of $53.40 million in the quarter, versus a consensus estimate of $53.82 million. MidCap Financial Investment has a return on equity of 9.28% and a net margin of 25.87%. Sell-side analysts expect MidCap Financial Investment to post 1.47 EPS for the current year.
Changes to analyst ratings
MFIC has been the subject of several research reports. Wells Fargo & Company cut its price target on MidCap Financial Investment from $13.50 to $12.50 and set an “overweight” rating for the company in a Monday, October 24 research note. Royal Bank of Canada lowered its price target on MidCap Financial Investment from $13.00 to $12.00 and set a “sector performance” rating on the stock in a report on Friday.
MidCap Financial Investment Company Profile
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Apollo Investment Corporation is a non-diversified, externally managed closed-end business development and investment company. It is elected to be treated as a business development company (BDC) under the Investment Companies Act 1940 (the 1940 Act) specializing in private equity investments in leveraged buyouts, acquisitions , recapitalizations, growth capital, refinancing and middle market private companies.
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