Main Street Capital ( MAIN (opens in new tab), $42.80) is a business development company (BDC) that invests in the debt and equity of middle-market businesses (i.e., between $10 million to $150 million of annual sales).
Most recent annualized dividend (per share): $2.58. Most recent 12-month special dividend (per share): $0.10. The bank has a more impressive track record for special dividends, which have been paid eight years in a row and doubled in 2021 to 8 cents per share. As such, they are forecasting a 13% decline in EPS for the current fiscal year.Īnd while this bank earns poor marks for dividend growth, it has solid grades for dividend consistency and yield.įulton Financial increased its regular dividend by 8% last March, which was its first dividend hike in three years. Wall Street analysts, who have a consensus Hold rating on the financial stock, think the bank may encounter headwinds in 2022 from reducing mortgage refinancing activity tied to rising interest rates. And at year-end, the bank had excess capital on its balance sheet that exceeded regulatory minimums by 14%. Asset quality remained strong non-performing loans were just 0.83% of total loans and FULT had a low net charge-off rate of 0.07%.įulton Financial's earnings per share (EPS) rose 50% in 2021, fueled by strong gains on investments. However, net interest margins declined modestly due to lower yields. The bank's average interest-earning assets rose 8.4% in 2021 to $24.4 billion and average interest-bearing deposits increased. It plans to grow profits by expanding its footprint in urban markets like Baltimore and Philadelphia, consolidating and upgrading its branch network and improving its efficiency ratio. The bank offers residential and commercial mortgages, wealth management and a variety of other banking services to businesses and retail customers.įulton Bank has delivered steady single-digit growth in both loans and deposits since 2017. Most recent annualized dividend (per share): $0.56įulton Financial ( FULT (opens in new tab), $18.57) owns Fulton Bank, a regional bank with $26 billion in assets that operates approximately 200 branch locations across Pennsylvania, Maryland, Delaware, Virginia and New Jersey. Most recent 12-month special dividend (per share): $0.08. In November 2010, Pole Perfect bought Torchlight Energy and abandoned all of its previous business plans within the health and fitness industries before formally changing its name to Torchlight in 2011. The Plano, Texas-based company traces its roots back to Pole Perfect, incorporated in 2007 in Nevada to market feminine fitness dance studios utilizing the advantages of pole dancing. Torchlight also said on Friday it paid a special dividend to its stockholders of record on June 24 and that it implemented a previously approved 1 for 2 reverse stock split. 
The company, which pushed back the closing of the deal to June 30, upsized its stock offering to $250 million last week from $100 million to take advantage of the share price rally. Torchlight said on Friday that it closed the deal and the new company, Meta Materials Inc, would begin trading under the ticker symbol "MMAT" on Monday. The deal includes plans to divest the legacy energy assets. capital markets, Metamaterial Inc, a smart materials and photonics company, last year agreed to merge with Torchlight, an oil and gas producer. In a reverse takeover to list on the Nasdaq and access the U.S.
The shares, however, gave up some of the gains after the company upsized its stock offering. Torchlight's stock rose as high as 74% last Monday as retail investors piled into the stock with record volumes. June 28 (Reuters) - Shares of Meta Material Inc (MMAT.O) gave up premarket gains to fall 20% on Monday, the first day of trading after a merger that saw the niche hi-tech materials maker swallow Torchlight Energy Resources, which was at the center of huge speculative bets by small individual traders.
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