Solar Capital Ltd. Plans Quarterly Dividend of $0.41 (SLRC)

Solar Capital Ltd. (NASDAQ:SLRC) declared a quarterly dividend on Friday, February 22nd, Wall Street Journal reports. Investors of record on Thursday, March 21st will be given a dividend of 0.41 per share by the financial services provider on Wednesday, April 3rd. This represents a $1.64 annualized dividend and a yield of 7.59%. The ex-dividend date is Wednesday, March 20th.

Solar Capital has increased its dividend payment by an average of 0.6% annually over the last three years. 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 fall. Analysts expect Solar Capital to earn $1.83 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 89.6%.

Shares of NASDAQ:SLRC opened at $21.61 on Friday. Solar Capital has a 52 week low of $18.45 and a 52 week high of $22.00. The firm has a market capitalization of $908.59 million, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 2.41 and a beta of 0.74. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.78.

Solar Capital (NASDAQ:SLRC) last issued its quarterly earnings data on Thursday, February 21st. The financial services provider reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Solar Capital had a net margin of 43.56% and a return on equity of 8.10%. The business had revenue of $38.24 million during the quarter, compared to analysts’ expectations of $37.46 million. As a group, research analysts expect that Solar Capital will post 1.78 EPS for the current fiscal year.

A number of brokerages have commented on SLRC. Wells Fargo & Co lifted their price objective on shares of Solar Capital from $18.00 to $19.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 26th. BidaskClub cut shares of Solar Capital from a “strong-buy” rating to a “buy” rating in a research note on Thursday. National Securities reissued a “buy” rating and issued a $25.00 price objective on shares of Solar Capital in a research note on Monday, February 25th. Zacks Investment Research cut shares of Solar Capital from a “hold” rating to a “sell” rating in a research note on Thursday, November 29th. Finally, Oppenheimer initiated coverage on shares of Solar Capital in a research note on Wednesday, November 28th. They set a “buy” rating and a $23.00 price target for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. Solar Capital presently has an average rating of “Hold” and a consensus target price of $22.50.

In other news, insider Michael S. Gross purchased 7,777 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was purchased at an average cost of $21.54 per share, with a total value of $167,516.58. Following the purchase, the insider now owns 165,894 shares in the company, valued at $3,573,356.76. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.90% of the stock is currently owned by insiders.

TRADEMARK VIOLATION WARNING: This news story was first posted by Dakota Financial News and is the property of of Dakota Financial News. If you are viewing this news story on another site, it was copied illegally and reposted in violation of international copyright & trademark law. The correct version of this news story can be read at

About Solar Capital

Solar Capital Ltd. is a business development company specializing in secured debt (first lien unitranche and second lien), subordinated (unsecured) debt, minority equity, and strategic income-oriented control equity investments in leveraged middle market companies. The fund invests in aerospace and defense; air freight & logistics; asset management; automotive; banking; beverage, food and tobacco; building products; buildings and real estate; broadcasting and entertainment; cargo transport; commercial services and supplies; communications equipment; chemicals, plastics and rubber; containers, packaging and glass; construction & engineering; diversified/conglomerate manufacturing; consumer Finance; distributors; diversified/conglomerate services; diversified financial services; diversified real estate sctivities; food products; Footwear; Education Services; diversified telecommunications services; electronics; farming and agriculture; finance; grocery; health care equipment and supplies; health care facilities; education and childcare; home and office furnishing, durable consumer products; hotels, motels, inns and gaming; insurance; restaurants, leisure, amusement, and entertainment; leisure equipment tolls and services, media, multiline retail, multi sector holdings; paper and forest products; personal products; professional services, research and consulting services, software; specialty retail; textiles apparel and luxury goods, thrifts and mortgage finance, trading companies and distributors, utilities, and wireless telecommunication services; industrial conglomerates; internet software and services, IT services, machinery; mining, steel, iron, and non precious metals; oil and gas; personal, food and miscellaneous services; printing and publishing; retail stores; telecommunications; textiles and leather; and utilities.

Featured Article: What is a Backdoor Roth IRA?

Dividend History for Solar Capital (NASDAQ:SLRC)

Receive News & Ratings for Solar Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Solar Capital and related companies with's FREE daily email newsletter.