Asta Funding, Inc. (ASFI) Raises Dividend to $5.30 Per Share

Asta Funding, Inc. (NASDAQ:ASFI) declared a special dividend on Wednesday, February 7th, Wall Street Journal reports. Investors of record on Friday, February 16th will be paid a dividend of 5.30 per share by the business services provider on Wednesday, February 28th. This represents a dividend yield of 0.5%. The ex-dividend date is Thursday, March 1st. This is a positive change from Asta Funding’s previous special dividend of $0.08.

Asta Funding (ASFI) opened at $10.45 on Friday. Asta Funding has a 12-month low of $6.15 and a 12-month high of $11.50. The company has a market capitalization of $70.54, a price-to-earnings ratio of 522.50 and a beta of 0.35.

A hedge fund recently raised its stake in Asta Funding stock. Vanguard Group Inc. boosted its holdings in Asta Funding, Inc. (NASDAQ:ASFI) by 1.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,347 shares of the business services provider’s stock after buying an additional 630 shares during the quarter. Vanguard Group Inc. owned approximately 0.52% of Asta Funding worth $282,000 at the end of the most recent reporting period. 16.60% of the stock is owned by institutional investors and hedge funds.

ASFI has been the topic of a number of recent analyst reports. ValuEngine cut Asta Funding from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. TheStreet cut Asta Funding from a “c” rating to a “d+” rating in a research report on Wednesday, December 13th.

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About Asta Funding

Asta Funding, Inc is primarily engaged in the businesses of acquiring, managing, servicing and recovering on portfolios of consumer receivables. The Company operates through four segments: Consumer Receivables, Personal Injury Claims, Structured Settlements and GAR Disability Advocates. The Consumer receivables segment is engaged in purchasing, managing for its own account and servicing distressed consumer receivables, including charged off receivables, semi-performing receivables and performing receivables.

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