Solar Capital Ltd. (NASDAQ:SLRC) announced a quarterly dividend on Thursday, August 2nd, NASDAQ reports. Shareholders of record on Thursday, September 20th will be given a dividend of 0.41 per share by the financial services provider on Tuesday, October 2nd. This represents a $1.64 dividend on an annualized basis and a yield of 7.54%. The ex-dividend date of this dividend is Wednesday, September 19th.
Solar Capital has a payout ratio of 91.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Solar Capital to earn $1.85 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 88.6%.
SLRC opened at $21.74 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. Solar Capital has a 12-month low of $19.70 and a 12-month high of $22.55. The company has a market capitalization of $920.86 million, a price-to-earnings ratio of 13.42, a price-to-earnings-growth ratio of 2.43 and a beta of 0.68.
A number of analysts have commented on SLRC shares. National Securities reiterated a “buy” rating and issued a $25.00 price objective on shares of Solar Capital in a research report on Thursday, August 9th. BidaskClub upgraded Solar Capital from a “sell” rating to a “hold” rating in a research report on Wednesday, July 4th. ValuEngine upgraded Solar Capital from a “sell” rating to a “hold” rating in a research report on Saturday, July 28th. Finally, Zacks Investment Research downgraded Solar Capital from a “buy” rating to a “hold” rating in a research report on Friday, July 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. Solar Capital has a consensus rating of “Hold” and an average price target of $23.67.
About Solar Capital
Solar Capital Ltd is a business development company that seeks investment opportunities in middle market companies located in the US. The fund targets companies operating in the fields of aerospace & defense, automobile, banking, beverage, food & tobacco, buildings & real estate, broadcasting & entertainment, cargo transport, chemicals, plastics & rubber, containers, packaging & glass, diversified or conglomerate manufacturing, diversified financial services, electronics, farming & agriculture, finance, grocery, healthcare, education & childcare, home, office furnishings & durable consumer products, hotels, motels, inns & gaming, insurance, IT services, leisure, amusement & entertainment, machinery, mining, steel, iron & non-precious metals, personal & nondurable consumer products, personal, food &services, personal transportation, professional services, retail stores, software, telecommunications, textiles and leather, and utilities.
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