Solar Senior Capital Ltd. (SUNS) to Issue Dividend Increase – $0.12 Per Share
Solar Senior Capital Ltd. (NASDAQ:SUNS) declared a monthly dividend on Friday, September 15th, Wall Street Journal reports. Investors of record on Friday, September 22nd will be paid a dividend of 0.1175 per share by the asset manager on Tuesday, October 3rd. This represents a $1.41 dividend on an annualized basis and a yield of 8.66%. The ex-dividend date of this dividend is Thursday, September 21st. This is a positive change from Solar Senior Capital’s previous monthly dividend of $0.12.
Shares of Solar Senior Capital (SUNS) traded up 0.25% on Friday, reaching $16.28. 60,146 shares of the company were exchanged. The company has a 50-day moving average price of $16.63 and a 200 day moving average price of $17.29. Solar Senior Capital has a 1-year low of $15.06 and a 1-year high of $18.46.
Solar Senior Capital (NASDAQ:SUNS) last released its quarterly earnings results on Tuesday, August 1st. The asset manager reported $0.35 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.35. The firm had revenue of $7.66 million during the quarter, compared to analysts’ expectations of $8.24 million. Solar Senior Capital had a return on equity of 7.98% and a net margin of 76.07%. Equities analysts predict that Solar Senior Capital will post $1.35 EPS for the current fiscal year.
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A number of equities analysts have weighed in on the company. BidaskClub cut Solar Senior Capital from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Zacks Investment Research upgraded Solar Senior Capital from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $17.88.
Solar Senior Capital Company Profile
Solar Senior Capital Ltd. is a closed-end, externally managed, non-diversified management investment company. The Company’s investment objective is to seek to maximize current income consistent with the preservation of capital. The Company seeks to achieve its investment objective by directly and indirectly investing in senior loans, including first lien, unitranche, and second lien debt instruments, made to private middle-market companies whose debt is rated below investment grade, which it refers to collectively as senior loans.
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