Solar Senior Capital Ltd (NASDAQ:SUNS) declared a monthly dividend on Friday, December 7th, Wall Street Journal reports. Investors of record on Thursday, December 20th will be given a dividend of 0.1175 per share by the asset manager on Friday, January 4th. This represents a $1.41 dividend on an annualized basis and a yield of 9.06%. The ex-dividend date is Wednesday, December 19th.
Solar Senior Capital has a dividend payout ratio of 100.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Solar Senior Capital to earn $1.40 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 100.7%.
SUNS stock traded up $0.39 during midday trading on Friday, reaching $15.56. The company had a trading volume of 67,904 shares, compared to its average volume of 37,791. The company has a market cap of $247.18 million, a PE ratio of 10.90 and a beta of 0.55. Solar Senior Capital has a 1-year low of $14.90 and a 1-year high of $18.35. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.17.
Solar Senior Capital (NASDAQ:SUNS) last posted its quarterly earnings results on Monday, November 5th. The asset manager reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.02. The business had revenue of $11.01 million during the quarter, compared to the consensus estimate of $10.10 million. Solar Senior Capital had a return on equity of 8.41% and a net margin of 58.33%. On average, analysts anticipate that Solar Senior Capital will post 1.41 EPS for the current fiscal year.
A number of research analysts have issued reports on SUNS shares. Zacks Investment Research cut Solar Senior Capital from a “hold” rating to a “sell” rating in a research report on Friday, August 10th. BidaskClub cut Solar Senior Capital from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 30th.
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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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