Medley Capital Corporation cuts dividend by 19%

Medley Capital Corporation (NYSE: MCC) will lower its quarterly payment from $0.37 to $0.30 per share.

At a stock price of $9.11 the indicated dividend yield is 13.1%. Medley Capital Corporation started paying dividends in 2014, initiating a $0.37 quarterly dividend in August, followed by a second payment of $037 in November. 

Now the third payment will be cut from $0.37 to $0.30 per share. The stock price of the investment firm fell by a third last year.