Solar Senior Capital Ltd (NASDAQ:SUNS) announced a monthly dividend on Tuesday, September 3rd, NASDAQ reports. Investors of record on Friday, September 20th will be paid a dividend of 0.117 per share by the asset manager on Wednesday, October 2nd. This represents a $1.40 annualized dividend and a dividend yield of 8.06%. The ex-dividend date is Thursday, September 19th.
Solar Senior Capital has increased its dividend payment by an average of 2.9% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Solar Senior Capital has a dividend payout ratio of 100.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Solar Senior Capital to earn $1.38 per share next year, which means the company may not be able to cover its $1.41 annual dividend with an expected future payout ratio of 102.2%.
Shares of SUNS stock opened at $17.42 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.21. Solar Senior Capital has a twelve month low of $14.50 and a twelve month high of $17.56. The company has a market cap of $278.37 million, a P/E ratio of 12.35 and a beta of 0.59. The business has a fifty day simple moving average of $17.00 and a 200 day simple moving average of $16.81.
Solar Senior Capital (NASDAQ:SUNS) last announced its quarterly earnings data on Monday, August 5th. The asset manager reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.02. Solar Senior Capital had a return on equity of 8.57% and a net margin of 35.76%. The business had revenue of $10.01 million during the quarter, compared to the consensus estimate of $10.76 million. As a group, equities research analysts anticipate that Solar Senior Capital will post 1.38 earnings per share for the current fiscal year.
SUNS has been the subject of several recent analyst reports. Zacks Investment Research downgraded Solar Senior Capital from a “hold” rating to a “sell” rating in a research report on Saturday, August 10th. Maxim Group restated a “buy” rating and set a $18.50 price objective on shares of Solar Senior Capital in a research report on Thursday, August 8th. Finally, BidaskClub upgraded Solar Senior Capital from a “hold” rating to a “buy” rating in a research report on Wednesday.
About Solar Senior Capital
Solar Senior Capital Ltd. is a business development company specializing in investments in leveraged, middle-market companies in the United States. The fund invests in the form of senior secured loans, including first lien, unitranche, and second lien debt instruments. It does not invest in start-up companies or companies having speculative business plans.
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