Medley Capital Corp (MCC) to Issue $0.10 Quarterly Dividend
Medley Capital Corp (NYSE:MCC) declared a quarterly dividend on Monday, November 19th, Wall Street Journal reports. Investors of record on Wednesday, December 5th will be given a dividend of 0.10 per share by the investment management company on Thursday, December 20th. This represents a $0.40 annualized dividend and a yield of 11.56%. The ex-dividend date of this dividend is Tuesday, December 4th.
Medley Capital has decreased its dividend payment by an average of 22.1% annually over the last three years. Medley Capital has a dividend payout ratio of 148.1% 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 Medley Capital to earn $0.22 per share next year, which means the company may not be able to cover its $0.40 annual dividend with an expected future payout ratio of 181.8%.
Medley Capital stock traded down $0.01 during midday trading on Monday, hitting $3.46. 102,925 shares of the stock were exchanged, compared to its average volume of 257,852. Medley Capital has a 52-week low of $3.35 and a 52-week high of $5.88. The stock has a market cap of $189.03 million, a PE ratio of 5.16 and a beta of 1.06. The company has a debt-to-equity ratio of 1.21, a quick ratio of 11.00 and a current ratio of 11.00.
Several research analysts recently weighed in on the stock. Zacks Investment Research cut shares of Medley Capital from a “hold” rating to a “sell” rating in a report on Thursday, August 16th. National Securities restated a “neutral” rating and set a $3.00 price target on shares of Medley Capital in a report on Wednesday, August 15th. Five investment analysts have rated the stock with a hold rating, Medley Capital has an average rating of “Hold” and an average target price of $4.67.
Medley Capital Company Profile
Medley Capital Corporation is a business development company. The fund seeks to invest in privately negotiated debt and equity securities of small and middle market companies. It primarily invests in the following sectors: business services; buildings and real estate; automobile; oil and gas; aerospace and defense; home and office furnishings, housewares, and durable consumer products; healthcare, education and childcare; personal, food, and miscellaneous services; retail stores, diversified or conglomerate manufacturing; telecommunications; mining, steel, iron, and non-precious metals; leisure, amusement, motion pictures, and entertainment; chemicals, plastics, and rubber; finance; personal and nondurable consumer products (manufacturing only); beverage, food, and tobacco; containers, packaging, and glass; structure finance securities; machinery (non-agriculture, non-construction, non-electric); diversified or conglomerate service; restaurant and franchise; electronics; and cargo transport.
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