Solar Senior Capital Ltd to Issue Monthly Dividend of $0.12 (SUNS)

Solar Senior Capital Ltd (NASDAQ:SUNS) declared a monthly dividend on Tuesday, May 7th, Wall Street Journal reports. Stockholders of record on Thursday, May 23rd will be given a dividend of 0.1175 per share by the asset manager on Tuesday, June 4th. This represents a $1.41 annualized dividend and a dividend yield of 8.30%. The ex-dividend date of this dividend is Wednesday, May 22nd.

Solar Senior Capital has increased its dividend payment by an average of 2.9% annually over the last three years and has increased its dividend every year for the last 3 years. Solar Senior Capital has a dividend payout ratio of 100.7% meaning 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 $1.38 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 102.2%.

SUNS stock opened at $16.98 on Friday. Solar Senior Capital has a 1-year low of $14.50 and a 1-year high of $17.56. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.07 and a quick ratio of 0.07. The firm has a market capitalization of $271.62 million, a PE ratio of 11.92 and a beta of 0.59.

Solar Senior Capital (NASDAQ:SUNS) last issued its earnings results on Monday, May 6th. The asset manager reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.01. Solar Senior Capital had a return on equity of 8.50% and a net margin of 38.53%. The business had revenue of $10.23 million during the quarter, compared to analyst estimates of $10.10 million. As a group, research analysts anticipate that Solar Senior Capital will post 1.38 EPS for the current fiscal year.

A number of equities analysts have weighed in on SUNS shares. Zacks Investment Research raised Solar Senior Capital from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research report on Friday, January 18th. BidaskClub cut shares of Solar Senior Capital from a “buy” rating to a “hold” rating in a report on Friday, March 1st.

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Solar Senior Capital Company Profile

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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Dividend History for Solar Senior Capital (NASDAQ:SUNS)

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