Logan Ridge Finance Co. (NASDAQ:LRFC) Raises Dividend to $0.36 Per Share

Logan Ridge Finance Co. (NASDAQ:LRFC) declared a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Shareholders of record on Tuesday, November 19th will be paid a dividend of 0.36 per share on Friday, November 29th. This represents a $1.44 dividend on an annualized basis and a yield of 5.69%. The ex-dividend date of this dividend is Tuesday, November 19th. This is a boost from Logan Ridge Finance’s previous quarterly dividend of $0.33.

Logan Ridge Finance has a payout ratio of 94.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Logan Ridge Finance to earn $1.45 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 91.0%.

Logan Ridge Finance Stock Performance

Shares of LRFC stock opened at $25.30 on Friday. Logan Ridge Finance has a fifty-two week low of $19.82 and a fifty-two week high of $25.74. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.87 and a current ratio of 0.12. The stock’s 50-day simple moving average is $24.24 and its 200-day simple moving average is $22.89.

About Logan Ridge Finance

Logan Ridge Finance Corporation, formerly known as, Capitala Finance Corp. is a Business Development Company specializing in senior subordinated debt and unitranche debt, unitranche loan, first-lien and second-lien loans, lower middle market and middle market, equity co-investment in sponsored companies.