Monroe Capital Corp (MRCC) Plans Quarterly Dividend of $0.35

Monroe Capital Corp (NASDAQ:MRCC) declared a quarterly dividend on Friday, May 31st, NASDAQ reports. Stockholders of record on Friday, June 14th will be paid a dividend of 0.35 per share by the financial services provider on Friday, June 28th. This represents a $1.40 annualized dividend and a dividend yield of 12.20%. The ex-dividend date is Thursday, June 13th.

Monroe Capital has a dividend payout ratio of 90.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Monroe Capital to earn $1.50 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 93.3%.

Shares of NASDAQ:MRCC traded up $0.07 during midday trading on Friday, hitting $11.48. The stock had a trading volume of 109,416 shares, compared to its average volume of 83,370. The stock has a market capitalization of $233.27 million, a PE ratio of 7.31 and a beta of 1.14. The company has a current ratio of 3.73, a quick ratio of 3.73 and a debt-to-equity ratio of 1.39. Monroe Capital has a fifty-two week low of $9.10 and a fifty-two week high of $14.65.

Monroe Capital (NASDAQ:MRCC) last issued its earnings results on Tuesday, May 7th. The financial services provider reported $0.35 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.03). The firm had revenue of $16.16 million during the quarter, compared to analyst estimates of $16.58 million. Monroe Capital had a net margin of 19.97% and a return on equity of 11.59%. On average, research analysts predict that Monroe Capital will post 1.44 EPS for the current fiscal year.

Several equities analysts have recently commented on MRCC shares. National Securities restated a “neutral” rating and issued a $13.00 target price on shares of Monroe Capital in a research report on Thursday, May 9th. Zacks Investment Research cut shares of Monroe Capital from a “buy” rating to a “sell” rating in a research report on Saturday, May 11th. BidaskClub upgraded shares of Monroe Capital from a “sell” rating to a “hold” rating in a research report on Friday, May 3rd. Finally, ValuEngine cut shares of Monroe Capital from a “hold” rating to a “sell” rating in a research report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. Monroe Capital presently has a consensus rating of “Hold” and a consensus price target of $13.13.

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About Monroe Capital

Monroe Capital Corporation is a business development company specializing in senior, unitranche and junior secured debt and to a lesser extent, unsecured debt and equity investments, and buyouts in middle-market companies. The fund prefers to invest in casinos and gaming, broadcasting, publishing, alcoholic beverage and tobacco distribution, oil and gas, insurance, pharmaceuticals and bio sciences, aerospace and defense, commercial printing, natural rubber, glass, container and packaging, metals and mining, and real estate.

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Dividend History for Monroe Capital (NASDAQ:MRCC)

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