Silver Spike Investment Corp. (NASDAQ:SSIC) Plans Quarterly Dividend of $0.25

Silver Spike Investment Corp. (NASDAQ:SSIC) announced a quarterly dividend on Thursday, August 8th, Zacks reports. Shareholders of record on Thursday, September 19th will be paid a dividend of 0.25 per share on Friday, September 27th. This represents a $1.00 annualized dividend and a yield of 8.39%. The ex-dividend date is Thursday, September 19th.

Silver Spike Investment has a dividend payout ratio of 101.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Silver Spike Investment Trading Up 2.1 %

Shares of SSIC stock opened at $11.92 on Wednesday. Silver Spike Investment has a twelve month low of $7.29 and a twelve month high of $12.45. The company’s 50-day moving average price is $11.66 and its 200-day moving average price is $11.15. The stock has a market cap of $74.08 million, a price-to-earnings ratio of 13.70 and a beta of 0.28.

Silver Spike Investment (NASDAQ:SSIC) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.25 EPS for the quarter. The firm had revenue of $3.08 million for the quarter, compared to analyst estimates of $2.50 million. Silver Spike Investment had a net margin of 44.96% and a return on equity of 5.62%.

About Silver Spike Investment

Silver Spike Investment Corp., is a a business development company. It is a specialty finance company, focuses on investing across the cannabis ecosystem through investments in the form of direct loans to, and equity ownership of, privately held cannabis companies. It intends to partner with private equity firms, entrepreneurs, business owners, and management teams to provide credit and equity financing alternatives to support buyouts, recapitalizations, growth initiatives, refinancings, and acquisitions across cannabis companies, including cannabis-enabling technology companies, cannabis-related health and wellness companies, and hemp and CBD distribution companies.