Ellington Financial LLC (NYSE:EFC) announced a quarterly dividend on Thursday, November 2nd, Wall Street Journal reports. Investors of record on Friday, December 1st will be paid a dividend of 0.41 per share by the financial services provider on Friday, December 15th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 10.73%. The ex-dividend date is Thursday, November 30th.

Ellington Financial has decreased its dividend payment by an average of 14.1% annually over the last three years. Ellington Financial has a dividend payout ratio of 146.3% 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 Ellington Financial to earn $1.52 per share next year, which means the company may not be able to cover its $1.80 annual dividend with an expected future payout ratio of 118.4%.

Ellington Financial (NYSE:EFC) last issued its earnings results on Thursday, August 3rd. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.06). The company had revenue of $22.66 million for the quarter, compared to the consensus estimate of $21.82 million. Ellington Financial had a return on equity of 5.48% and a net margin of 26.67%. The firm’s revenue was down 4.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.15 earnings per share.

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Several research analysts recently issued reports on the stock. BidaskClub raised shares of Ellington Financial from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Zacks Investment Research lowered shares of Ellington Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Maxim Group reissued a “buy” rating and set a $20.00 target price on shares of Ellington Financial in a research note on Monday, October 9th. Finally, ValuEngine raised shares of Ellington Financial from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $18.75.

Ellington Financial Company Profile

Dividend History for Ellington Financial (NYSE:EFC)

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