Fidus Investment Co. (NASDAQ:FDUS) to Issue Dividend Increase – $0.51 Per Share

Fidus Investment Co. (NASDAQ:FDUS – Get Rating) declared a quarterly dividend on Wednesday, February 15th, Zacks reports. Shareholders of record on Wednesday, March 22nd will be given a dividend of 0.51 per share by the asset manager on Wednesday, March 29th. This represents a $2.04 dividend on an annualized basis and a yield of 10.60%. The ex-dividend date of this dividend is Tuesday, March 21st. This is an increase from Fidus Investment’s previous quarterly dividend of $0.36.

Fidus Investment has decreased its dividend by an average of 2.6% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. Fidus Investment has a payout ratio of 80.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Fidus Investment to earn $2.07 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 79.2%.

Fidus Investment Stock Performance

FDUS opened at $19.25 on Friday. Fidus Investment has a fifty-two week low of $16.40 and a fifty-two week high of $21.25. The company has a fifty day moving average of $20.23 and a two-hundred day moving average of $19.37. The stock has a market capitalization of $478.17 million, a price-to-earnings ratio of 13.10 and a beta of 1.50.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. B. Riley lifted their price objective on shares of Fidus Investment from $21.00 to $22.00 and gave the company a “buy” rating in a report on Monday, March 6th. Keefe, Bruyette & Woods cut their target price on shares of Fidus Investment from $20.50 to $20.00 and set a “market perform” rating for the company in a research note on Monday, March 6th. Finally, StockNews.com began coverage on shares of Fidus Investment in a research note on Thursday. They set a “hold” rating for the company.

Institutional Trading of Fidus Investment

Institutional investors and hedge funds have recently modified their holdings of the stock. LPL Financial LLC increased its stake in shares of Fidus Investment by 3.5% during the second quarter. LPL Financial LLC now owns 34,118 shares of the asset manager’s stock worth $595,000 after purchasing an additional 1,169 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in Fidus Investment by 9.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 19,401 shares of the asset manager’s stock worth $369,000 after acquiring an additional 1,695 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Fidus Investment by 9.0% during the second quarter. Envestnet Asset Management Inc. now owns 19,082 shares of the asset manager’s stock worth $333,000 after acquiring an additional 1,577 shares during the last quarter. Natixis boosted its position in Fidus Investment by 3.2% during the fourth quarter. Natixis now owns 16,664 shares of the asset manager’s stock worth $318,000 after acquiring an additional 519 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in Fidus Investment by 27.4% during the first quarter. Royal Bank of Canada now owns 15,740 shares of the asset manager’s stock worth $317,000 after acquiring an additional 3,383 shares during the last quarter. Hedge funds and other institutional investors own 18.97% of the company’s stock.

Fidus Investment Company Profile

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Fidus Investment Corporation is a business development company specializing in leveraged buyouts, refinancings, change of ownership transactions, recapitalizations, strategic acquisitions, mezzanine, growth capital, business expansion, lower middle market investments, debt investments, subordinated and second lien loans, senior secured and unitranche debt, preferred equity, warrants, subordinated debt, senior subordinated notes, junior secured loans, and unitranche loans.