LONDON, UK / ACCESSWIRE / June 13, 2018 /Active-Investors has a free review on Newtek Business Services Corp. (NASDAQ: NEWT) following the Company’s announcement that it will begin trading ex-dividend on June 14, 2018. To capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of the trading session on June 13, 2018. Active-Investors has initiated due-diligence on this dividend stock. Register with us for more free research including the one on NEWT:
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On May 11, 2018, Newtek announced that its Board of Directors declared a second quarter 2018 cash dividend of $0.421 per share, reflecting a 5.2% increase compared to the Company’s first quarter 2018 dividend of $0.40 per share. The second quarter 2018 dividend is payable on June 29, 2018, to shareholders of record as of June 15, 2018.
Newtek’s indicated dividend represents a yield of 8.35%, which is more than four times higher than the average dividend yield of 1.93% for Services sector. The Company has raised its dividend for two years in a row.
Newtek has a dividend payout ratio of 89.8%, which denotes that the Company spends approximately $0.90 for dividend distribution out of every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.
According to analysts’ estimates, Newtek is forecasted to report earnings of $2.07 per share for the next year, which is substantially higher than the Company’s annualized dividend payout of $1.68 per share.
As of March 31, 2018, Newtek’s total investments at fair value were $470.23 million, while the Company had total liabilities were $280.63 million. The Company’s strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain the dividend distribution for a long period.
About Newtek Business Services Corp.
Newtek Business is an internally managed Business Development Company, which along with its controlled portfolio companies, provides a wide range of business services and financial products under the Newtek® brand to the small- and medium-sized business (SMB) market. Since 1999, Newtek has provided state-of-the-art, cost-efficient products and services and efficient business strategies to SMB accounts across all 50 states to help them grow their sales, control their expenses and reduce their risk.
Newtek Business Services Corp., formerly known as Newtek Business Services Inc., was incorporated on August 26, 2013, and is headquartered in Lake Success, New York.
Stock Performance Snapshot
June 12, 2018 - At Tuesday’s closing bell, Newtek Business Services’ stock climbed 1.76%, ending the trading session at $20.20.
Volume traded for the day: 147.68 thousand shares, which was above the 3-month average volume of 96.49 thousand shares.
Stock performance in the last month – up 7.50%; previous three-month period – up 7.28%; past twelve-month period – up 21.39%; and year-to-date – up 9.25%
After yesterday’s close, Newtek Business Services’ market cap was at $373.50 million.
The stock has a dividend yield of 8.32%.
The stock is part of the Services sector, categorized under the Business Services industry. This sector was up 0.6% at the end of the session.
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