Ellington Financial Inc. (EFC) to Issue Monthly Dividend of $0.13 on December 26th

Ellington Financial Inc. (NYSE:EFC) announced a monthly dividend on Thursday, November 7th,Wall Street Journal reports. Investors of record on Friday, November 29th will be given a dividend of 0.13 per share by the financial services provider on Thursday, December 26th. This represents a $1.56 annualized dividend and a dividend yield of 12.61%. The ex-dividend date is Friday, November 29th.

Ellington Financial has raised its dividend payment by an average of 12.7% per year over the last three years. Ellington Financial has a payout ratio of 96.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Ellington Financial to earn $1.67 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 93.4%.

Ellington Financial Price Performance

EFC stock opened at $12.37 on Wednesday. The business’s fifty day moving average price is $12.55 and its 200 day moving average price is $12.55. The company has a current ratio of 37.04, a quick ratio of 37.04 and a debt-to-equity ratio of 10.87. Ellington Financial has a 12-month low of $10.88 and a 12-month high of $13.46. The company has a market capitalization of $1.12 billion, a PE ratio of 9.44 and a beta of 1.99.

Ellington Financial (NYSE:EFC) last issued its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.04. Ellington Financial had a return on equity of 10.26% and a net margin of 106.40%. The company had revenue of $33.63 million for the quarter, compared to the consensus estimate of $37.95 million. During the same quarter in the prior year, the business earned $0.33 EPS. On average, sell-side analysts anticipate that Ellington Financial will post 1.37 EPS for the current year.

Insider Activity

In other Ellington Financial news, CIO Michael W. Vranos sold 14,000 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $12.48, for a total transaction of $174,720.00. Following the completion of the sale, the executive now directly owns 168,359 shares of the company’s stock, valued at approximately $2,101,120.32. This trade represents a 7.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.40% of the company’s stock.

Ellington Financial Company Profile

Ellington Financial Inc, through its subsidiary, Ellington Financial Operating Partnership LLC, acquires and manages mortgage-related, consumer-related, corporate-related, and other financial assets in the United States. The company acquires and manages residential mortgage-backed securities (RMBS) backed by prime jumbo, Alt-A, manufactured housing, and subprime mortgage; RMBS for which the principal and interest payments are guaranteed by the U.S.