THL Credit, Inc. Announces Quarterly Dividend of $0.21 (NASDAQ:TCRD)
THL Credit, Inc. (NASDAQ:TCRD) declared a quarterly dividend on Tuesday, August 6th, NASDAQ reports. Investors of record on Monday, September 16th will be given a dividend of 0.21 per share by the investment management company on Monday, September 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 12.00%. The ex-dividend date is Friday, September 13th.
THL Credit has decreased its dividend by an average of 7.4% annually over the last three years. THL Credit has a dividend payout ratio of 73.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect THL Credit to earn $0.84 per share next year, which means the company may not be able to cover its $0.84 annual dividend with an expected future payout ratio of 100.0%.
NASDAQ:TCRD traded up $0.05 during mid-day trading on Wednesday, reaching $7.00. 63,270 shares of the company were exchanged, compared to its average volume of 64,702. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.39. The stock has a market cap of $216.25 million, a PE ratio of 6.54 and a beta of 1.04. THL Credit has a 12 month low of $5.80 and a 12 month high of $8.75. The company has a fifty day moving average of $6.65 and a 200 day moving average of $6.69.
Several research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of THL Credit from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. ValuEngine raised THL Credit from a “sell” rating to a “hold” rating in a report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $7.00.
THL Credit Company Profile
THL Credit, Inc is a business development company specializing in direct and fund of fund investments. The fund seeks to invest in debt and equity securities of middle market companies. It seeks to invest in PIPES, growth, acquisition, market or product expansion, recapitalization, mature, and change of control transactions in both sponsored and unsponsored issuers.
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