Apollo Investment Corp. (NASDAQ:AINV) Plans Quarterly Dividend of $0.31

Apollo Investment Corp. (NASDAQ:AINV) declared a quarterly dividend on Thursday, August 6th, Zacks reports. Stockholders of record on Monday, September 21st will be paid a dividend of 0.31 per share by the asset manager on Wednesday, October 7th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 13.18%. The ex-dividend date of this dividend is Friday, September 18th.

Apollo Investment has decreased its dividend by 14.4% over the last three years. Apollo Investment has a dividend payout ratio of 78.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Apollo Investment to earn $1.42 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 87.3%.

NASDAQ AINV traded up $0.04 during trading hours on Wednesday, hitting $9.41. The company’s stock had a trading volume of 104 shares, compared to its average volume of 383,905. The stock has a fifty day moving average of $9.33 and a 200 day moving average of $9.57. Apollo Investment has a twelve month low of $5.20 and a twelve month high of $18.33. The firm has a market capitalization of $611.49 million, a P/E ratio of -4.55 and a beta of 1.73. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 1.76.

Apollo Investment (NASDAQ:AINV) last announced its quarterly earnings data on Thursday, August 6th. The asset manager reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.01). Apollo Investment had a negative net margin of 51.26% and a positive return on equity of 12.38%. The business had revenue of $56.67 million during the quarter, compared to analyst estimates of $63.44 million. During the same quarter in the prior year, the company earned $0.50 earnings per share. The company’s quarterly revenue was down 14.8% on a year-over-year basis. On average, analysts predict that Apollo Investment will post 1.56 earnings per share for the current year.

Several brokerages recently weighed in on AINV. BMO Capital Markets cut their price objective on shares of Apollo Investment from $16.00 to $11.00 and set a “market perform” rating on the stock in a report on Friday, May 22nd. ValuEngine lowered shares of Apollo Investment from a “sell” rating to a “strong sell” rating in a report on Monday, August 3rd. Wells Fargo & Company increased their price objective on shares of Apollo Investment from $7.00 to $8.50 and gave the company an “underweight” rating in a report on Wednesday, May 20th. Compass Point increased their price objective on shares of Apollo Investment from $6.00 to $6.50 and gave the company a “neutral” rating in a report on Friday, May 22nd. Finally, Royal Bank of Canada increased their target price on shares of Apollo Investment from $8.00 to $10.00 and gave the stock a “sector perform” rating in a report on Friday, May 22nd. Five research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $8.54.

About Apollo Investment

Apollo Investment Corporation is business development company specializing in middle market companies. It provides direct equity capital, mezzanine and senior secured loans, unsecured debt, and subordinated debt and loans. It also seeks to invest in PIPES transactions. The fund may also invest in securities of public companies that are thinly traded and may acquire investments in the secondary market and structured products.

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Dividend History for Apollo Investment (NASDAQ:AINV)

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