MVC Capital, Inc. (NYSE:MVC) Announces Dividend Increase – $0.17 Per Share

MVC Capital, Inc. (NYSE:MVC) announced a quarterly dividend on Tuesday, October 15th, Zacks reports. Shareholders of record on Friday, October 25th will be given a dividend of 0.17 per share by the investment management company on Thursday, October 31st. This represents a $0.68 dividend on an annualized basis and a yield of 7.61%. The ex-dividend date is Thursday, October 24th. This is a boost from MVC Capital’s previous quarterly dividend of $0.15.

MVC Capital has raised its dividend payment by an average of 3.6% per year over the last three years and has increased its dividend every year for the last 2 years. MVC Capital has a dividend payout ratio of 260.9% 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 MVC Capital to earn $0.63 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 95.2%.

NYSE:MVC opened at $8.94 on Thursday. The company has a debt-to-equity ratio of 0.50, a current ratio of 13.06 and a quick ratio of 13.06. The business has a fifty day simple moving average of $8.89 and a two-hundred day simple moving average of $9.12. MVC Capital has a 1 year low of $7.96 and a 1 year high of $9.65. The company has a market capitalization of $155.45 million, a P/E ratio of 44.70 and a beta of 0.73.

MVC Capital (NYSE:MVC) last released its earnings results on Monday, September 9th. The investment management company reported $0.16 earnings per share (EPS) for the quarter. MVC Capital had a return on equity of 4.51% and a net margin of 38.77%. The business had revenue of $7.47 million during the quarter. As a group, analysts anticipate that MVC Capital will post 0.63 earnings per share for the current year.

MVC has been the subject of several research analyst reports. TheStreet lowered MVC Capital from a “b” rating to a “c+” rating in a research note on Monday, September 23rd. Zacks Investment Research raised MVC Capital from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research note on Thursday, September 12th. Finally, Maxim Group set a $13.00 price target on MVC Capital and gave the stock a “buy” rating in a research note on Saturday, September 14th.

In other news, major shareholder Mvc Capital, Inc. sold 608,310 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $1.70, for a total value of $1,034,127.00. Following the completion of the sale, the insider now owns 3,836,334 shares of the company’s stock, valued at approximately $6,521,767.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders have acquired 4,000 shares of company stock valued at $35,730 and have sold 2,433,240 shares valued at $4,087,843. Insiders own 8.85% of the company’s stock.

MVC Capital Company Profile

MVC Capital, Inc is a business development company specializing in equity, acquisition financing, mezzanine financing, management buyouts, leveraged buildups, corporate partnerships, PIPE transactions, going private transactions, private company recapitalizations, operational turnarounds, and growth and expansion capital transaction financing.

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Dividend History for MVC Capital (NYSE:MVC)

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