If You’re Looking to Catch SuRo Capital's Next Dividend, Now’s the Time
We like its portfolio positioning, but let’s remember the upcoming record date.
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Because we are adding the EPS Diplomat model strategy to the Portfolio on Monday, and given the Portfolio’s current position size, we are not taking advantage of the steep sell-off in the shares of SuRo Capital (SSSS) .
Over the last few days, the shares have fallen by more than 9% amid the pullback in CoreWeave (CRWV) shares. As we learned in SuRo’s September quarter earnings, the management team unwound some of its CoreWeave position, but not all of it. Understandable.
At the same time, post-quarter positive developments for its positions in OpenAI, Whoop, Plaid and Vast bode well not only for the uptrend in the net asset value attached to its investment portfolio but also for its dividend stream.
But let’s also consider the record date for SuRo’s next $0.25 per share dividend, which is the fact that the close of trading on November 21 is quickly approaching. That, and the recent pullback, balanced against our $12 price target, are leading us to reiterate our One rating at current levels and share that the current share price is a wonderful pick up point for folks who have either missed out on SSSS shares thus far or are looking to catch up to the Portfolio’s position size.
The shares may be down, but the upcoming dividend payment alone offers a nice 2.7% yield on the current share price.
