Apollo Investment Corp. (NASDAQ:AINV) announced a quarterly dividend on Thursday, May 16th, Zacks reports. Shareholders of record on Thursday, June 20th will be paid a dividend of 0.45 per share by the asset manager on Friday, July 5th. This represents a $1.80 annualized dividend and a dividend yield of 10.99%. The ex-dividend date is Wednesday, June 19th.
Apollo Investment has decreased its dividend by an average of 9.1% per year over the last three years. Apollo Investment has a dividend payout ratio of 295.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Apollo Investment to earn $1.89 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 95.2%.
Shares of AINV traded up $0.08 during mid-day trading on Tuesday, hitting $16.38. The stock had a trading volume of 3,447 shares, compared to its average volume of 321,142. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 9.10, a P/E/G ratio of 8.94 and a beta of 1.13. The stock’s fifty day moving average price is $15.89. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.32 and a current ratio of 1.32. Apollo Investment has a 52 week low of $12.05 and a 52 week high of $18.00.
AINV has been the topic of several research reports. TheStreet upgraded Apollo Investment from a “c” rating to a “b-” rating in a research note on Friday, June 7th. BidaskClub upgraded Apollo Investment from a “hold” rating to a “buy” rating in a research note on Wednesday, May 22nd. ValuEngine upgraded Apollo Investment from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd. National Securities reiterated a “neutral” rating and set a $18.00 price objective on shares of Apollo Investment in a research note on Monday, May 20th. Finally, Zacks Investment Research lowered Apollo Investment from a “hold” rating to a “sell” rating in a research note on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. Apollo Investment currently has a consensus rating of “Hold” and an average price target of $17.40.
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Apollo Investment Company Profile
Apollo Investment Corporation is business development company specializing in middle market companies. It provides direct equity capital, mezzanine and senior secured loans, unsecured debt, and subordinated debt and loans. It also seeks to invest in PIPES transactions. The fund may also invest in securities of public companies that are thinly traded and may acquire investments in the secondary market and structured products.
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