New Mountain Finance Corporation (NASDAQ:NMFC) Plans Quarterly Dividend of $0.32

New Mountain Finance Corporation (NASDAQ:NMFC) declared a quarterly dividend on Tuesday, February 24th. Shareholders of record on Tuesday, March 17th will be paid a dividend of 0.32 per share on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a yield of 16.2%. The ex-dividend date is Tuesday, March 17th.

New Mountain Finance has increased its dividend by an average of 0.0%per year over the last three years. New Mountain Finance has a dividend payout ratio of 92.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect New Mountain Finance to earn $1.31 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 97.7%.

New Mountain Finance Stock Down 3.0%

NMFC stock traded down $0.25 on Wednesday, hitting $7.92. 1,764,619 shares of the company’s stock were exchanged, compared to its average volume of 1,000,485. New Mountain Finance has a 12-month low of $7.69 and a 12-month high of $12.01. The firm has a 50 day moving average price of $8.81 and a two-hundred day moving average price of $9.45. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.99 and a current ratio of 1.99. The stock has a market cap of $816.51 million, a P/E ratio of 12.19 and a beta of 0.58.

About New Mountain Finance

New Mountain Finance Corp. is a closed-end, externally managed business development company (BDC) that provides customized debt and equity capital solutions to U.S. middle-market companies. As a BDC organized under the Investment Company Act of 1940, New Mountain Finance invests in sponsor-backed and founder-led businesses that span a range of industry sectors, with a focus on companies demonstrating resilient growth and recurring revenue streams.

The company’s investment portfolio typically includes first-lien senior secured loans, second-lien and junior debt instruments, mezzanine financing and equity co-investments.