Ellington Financial LLC (NYSE:EFC) announced a quarterly dividend on Friday, February 15th, Wall Street Journal reports. Shareholders of record on Friday, March 1st will be given a dividend of 0.41 per share by the financial services provider on Friday, March 15th. This represents a $1.64 dividend on an annualized basis and a yield of 9.44%. The ex-dividend date of this dividend is Thursday, February 28th.
Ellington Financial has decreased its dividend by an average of 12.5% annually over the last three years. Ellington Financial has a payout ratio of 115.5% indicating that 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 Ellington Financial to earn $1.59 per share next year, which means the company may not be able to cover its $1.64 annual dividend with an expected future payout ratio of 103.1%.
EFC traded up $0.17 during trading on Friday, reaching $17.38. 100,935 shares of the company’s stock were exchanged, compared to its average volume of 81,817. The company has a debt-to-equity ratio of 3.12, a quick ratio of 1.80 and a current ratio of 1.80. Ellington Financial has a fifty-two week low of $14.12 and a fifty-two week high of $17.48. The firm has a market capitalization of $505.73 million, a PE ratio of 16.09 and a beta of 0.45.
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About Ellington Financial
Ellington Financial LLC, through its subsidiary Ellington Financial Operating Partnership LLC, operates as a specialty finance company in the United States. The company acquires and manages mortgage-related assets, including residential mortgage-backed securities (RMBS) backed by prime jumbo, Alt-A, manufactured housing, and subprime residential mortgage loans; RMBS for which the principal and interest payments are guaranteed by the U.S.
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