Medley Capital Corp (MCC) to Issue Quarterly Dividend of $0.16 on March 23rd

Medley Capital Corp (NYSE:MCC) declared a quarterly dividend on Wednesday, February 7th, Wall Street Journal reports. Investors of record on Wednesday, February 21st will be paid a dividend of 0.16 per share by the investment management company on Friday, March 23rd. This represents a $0.64 dividend on an annualized basis and a yield of 14.75%. The ex-dividend date is Tuesday, February 20th.

Medley Capital has decreased its dividend by an average of 22.1% annually over the last three years. Medley Capital has a payout ratio of 97.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Medley Capital to earn $0.58 per share next year, which means the company may not be able to cover its $0.64 annual dividend with an expected future payout ratio of 110.3%.

Medley Capital (MCC) opened at $4.34 on Thursday. The stock has a market capitalization of $242.41, a price-to-earnings ratio of 7.18, a P/E/G ratio of 1.62 and a beta of 1.15. The company has a debt-to-equity ratio of 1.11, a current ratio of 5.02 and a quick ratio of 5.02. Medley Capital has a 52 week low of $4.15 and a 52 week high of $7.98.

Medley Capital (NYSE:MCC) last issued its earnings results on Tuesday, February 6th. The investment management company reported $0.13 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.03). The firm had revenue of $20.63 million during the quarter, compared to analysts’ expectations of $22.19 million. Medley Capital had a positive return on equity of 7.23% and a negative net margin of 58.73%. The business’s revenue was down 20.8% on a year-over-year basis. During the same quarter last year, the business earned $0.19 EPS. analysts forecast that Medley Capital will post 0.55 earnings per share for the current fiscal year.

A number of equities analysts recently issued reports on MCC shares. Keefe, Bruyette & Woods set a $6.00 target price on Medley Capital and gave the stock a “hold” rating in a research note on Friday, December 8th. Barclays reduced their target price on Medley Capital from $7.00 to $5.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 7th. Zacks Investment Research lowered Medley Capital from a “hold” rating to a “sell” rating in a research note on Wednesday, December 13th. National Securities reduced their target price on Medley Capital from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Wednesday, February 7th. Finally, ValuEngine downgraded Medley Capital from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. Medley Capital currently has an average rating of “Hold” and a consensus price target of $5.63.

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About Medley Capital

Medley Capital Corporation is a non-diversified closed-end management investment company. The Company’s investment objective is to generate current income and capital appreciation by lending directly to privately-held middle market companies, primarily through directly originated transactions to help these companies expand their business, refinance and make acquisitions.

Dividend History for Medley Capital (NYSE:MCC)

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