Solar Senior Capital Ltd Plans Monthly Dividend of $0.12 (NASDAQ:SUNS)

Solar Senior Capital Ltd (NASDAQ:SUNS) declared a monthly dividend on Tuesday, September 3rd, NASDAQ reports. Shareholders of record on Friday, September 20th will be given a dividend of 0.117 per share by the asset manager on Wednesday, October 2nd. This represents a $1.40 annualized dividend and a yield of 8.24%. The ex-dividend date of this dividend is Thursday, September 19th.

Solar Senior Capital has raised its dividend payment by an average of 2.9% per year over the last three years and has increased its dividend every year for the last 3 years. Solar Senior Capital has a 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. Research 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 NASDAQ SUNS traded up $0.09 during midday trading on Wednesday, hitting $17.04. 2,506 shares of the company’s stock traded hands, compared to its average volume of 31,380. Solar Senior Capital has a 1 year low of $14.50 and a 1 year high of $17.56. The stock has a market capitalization of $274.12 million, a price-to-earnings ratio of 12.09 and a beta of 0.59. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.54 and a current ratio of 0.54. The firm has a fifty day moving average of $16.83 and a 200 day moving average of $16.80.

Solar Senior Capital (NASDAQ:SUNS) last posted its earnings results on Monday, August 5th. The asset manager reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. The firm had revenue of $10.01 million during the quarter, compared to the consensus estimate of $10.76 million. Solar Senior Capital had a return on equity of 8.57% and a net margin of 35.76%. On average, equities analysts anticipate that Solar Senior Capital will post 1.38 earnings per share for the current year.

SUNS has been the subject of a number of analyst reports. BidaskClub downgraded Solar Senior Capital from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Zacks Investment Research downgraded Solar Senior Capital from a “hold” rating to a “sell” rating in a research report on Saturday, August 10th. Finally, Maxim Group reiterated a “buy” rating and set a $18.50 target price on shares of Solar Senior Capital in a research report on Thursday, August 8th.

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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Dividend History for Solar Senior Capital (NASDAQ:SUNS)

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