WhiteHorse Finance, Inc. (NASDAQ:WHF) Declares Quarterly Dividend of $0.39

WhiteHorse Finance, Inc. (NASDAQ:WHF) announced a quarterly dividend on Tuesday, May 13th, Wall Street Journal reports. Stockholders of record on Thursday, June 19th will be paid a dividend of 0.385 per share by the investment management company on Thursday, July 3rd. This represents a $1.54 annualized dividend and a dividend yield of 16.89%. The ex-dividend date is Wednesday, June 18th.

WhiteHorse Finance has increased its dividend by an average of 4.3% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. WhiteHorse Finance has a payout ratio of 122.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect WhiteHorse Finance to earn $1.46 per share next year, which means the company may not be able to cover its $1.54 annual dividend with an expected future payout ratio of 105.5%.

WhiteHorse Finance Trading Down 1.7%

Shares of WhiteHorse Finance stock opened at $9.12 on Thursday. The stock has a market capitalization of $211.98 million, a PE ratio of 20.27 and a beta of 0.84. WhiteHorse Finance has a 52 week low of $8.44 and a 52 week high of $13.44. The stock has a 50 day moving average price of $9.53 and a two-hundred day moving average price of $10.18. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.98 and a current ratio of 0.98.

WhiteHorse Finance (NASDAQ:WHF) last posted its earnings results on Monday, May 12th. The investment management company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.04). The firm had revenue of $18.80 million for the quarter, compared to the consensus estimate of $19.98 million. WhiteHorse Finance had a return on equity of 12.86% and a net margin of 10.65%. As a group, equities analysts anticipate that WhiteHorse Finance will post 1.66 earnings per share for the current fiscal year.

Insider Buying and Selling at WhiteHorse Finance

In related news, Director John Bolduc acquired 22,360 shares of the firm’s stock in a transaction that occurred on Tuesday, April 8th. The shares were bought at an average cost of $8.94 per share, for a total transaction of $199,898.40. Following the completion of the transaction, the director now owns 237,885 shares in the company, valued at approximately $2,126,691.90. This trade represents a 10.37% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.30% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. reduced their target price on shares of WhiteHorse Finance from $9.50 to $9.00 and set an “underweight” rating for the company in a research note on Monday, March 10th.

About WhiteHorse Finance

WhiteHorse Finance, Inc is business development company, non-diversified, closed end management company specializing in originating senior secured loans, lower middle market, growth capital industries. It invests in broadline retail, office services and supplies, building products, health care services, health care supplies, research and consulting services, application software, home furnishings, specialized consumer services, data processing and outsourced services, leisure facilities, cable, and satellite.