Forging Ahead: Hennessy Advisors Managing Performance Challenges with Strategic Dividend Changes
At the end of today, March 04, 2024, Hennessy Advisors (NASDAQ:HNNA) will distribute a dividend payout of $0.14 per share, translating to an annualized dividend yield of 8.33%. Shareholders who held the stock before the ex-dividend date on February 16, 2024 will benefit from this payout.
Hennessy Advisors Recent Dividend Payouts
| Ex-Date | Payments per year | Dividend | Yield | Announced | Record | Payable |
|---|---|---|---|---|---|---|
| 2024-02-16 | 4 | $0.14 | 8.33% | 2024-02-08 | 2024-02-20 | 2024-03-04 |
| 2023-11-10 | 4 | $0.14 | 8.47% | 2023-10-26 | 2023-11-13 | 2023-11-27 |
| 2023-08-22 | 4 | $0.14 | 7.84% | 2023-08-02 | 2023-08-23 | 2023-09-06 |
| 2023-05-22 | 4 | $0.14 | 7.72% | 2023-05-10 | 2023-05-23 | 2023-06-05 |
| 2023-02-17 | 4 | $0.14 | 5.61% | 2023-02-09 | 2023-02-21 | 2023-03-06 |
| 2022-11-14 | 4 | $0.14 | 6.25% | 2022-10-27 | 2022-11-15 | 2022-11-30 |
| 2022-08-15 | 4 | $0.14 | 5.3% | 2022-08-03 | 2022-08-16 | 2022-08-31 |
| 2022-05-20 | 4 | $0.14 | 5.82% | 2022-05-11 | 2022-05-23 | 2022-06-02 |
| 2022-02-18 | 4 | $0.14 | 5.37% | 2022-02-10 | 2022-02-22 | 2022-03-04 |
| 2021-11-09 | 4 | $0.14 | 4.79% | 2021-10-29 | 2021-11-11 | 2021-11-23 |
| 2021-08-16 | 4 | $0.14 | 5.89% | 2021-08-04 | 2021-08-17 | 2021-09-02 |
| 2021-05-24 | 4 | $0.14 | 5.95% | 2021-05-12 | 2021-05-25 | 2021-06-04 |
When comparing Hennessy Advisors's dividend yield against its industry peers, the company sits comfortably in the middle, with its peer OFS Credit Co (NASDAQ:OCCI) having the highest annualized dividend yield at 16.46%.
Analyzing Hennessy Advisors Financial Health
Companies that pay out steady cash dividends are attractive to income-seeking investors, and companies that are financially healthy tend to maintain their dividend payout schedule. For this reason, investors can find it insightful to see if a company has been increasing or decreasing their dividend payout schedule and if their earnings are growing.
YoY Growth in Dividend Per Share
Throughout the period of 2020 to 2023, the company maintained a steady dividend per share of $0.55. This demonstrates the company's commitment to a stable dividend policy, which can be reassuring for investors looking for reliable income sources.
YoY Earnings Growth For Hennessy Advisors
From 2020 to 2023, Hennessy Advisors experienced a decrease in earnings per share, dropping from $1.06 to $0.63. This declining earnings trend may be worrisome for income-seeking investors, as it indicates a potential impact on the company's ability to sustain or increase its cash dividend payouts. Further analysis is necessary to understand the underlying reasons for this decrease.
Recap
In this article, we delve into Hennessy Advisors's recent dividend payout and examine how it impacts shareholders. The company has announced a dividend distribution of $0.14 per share today, resulting in an annualized dividend yield of 8.33%.
When comparing Hennessy Advisors's dividend yield against its industry peers, the company sits comfortably in the middle, with its peer OFS Credit Co having the highest annualized dividend yield at 16.46%.
While the dividend per share remains unchanged during the period of 2020 to 2023, the downward trend in earnings per share for Hennessy Advisors indicates a challenging financial position, raising concerns about sustained profit distribution to shareholders.
To remain updated on any changes in financials or dividend disbursements, investors should closely observe the company's performance in the coming quarters.
[Click here](https://www.benzinga.com/stock//dividends) to find details on Hennessy Advisors's previous dividends.
To keep track of which companies are distributing dividends, click here to visit our Dividends Calendar.
This article was generated by Benzinga's automated content engine and reviewed by an editor.