Fifth Street gains after lifting dividend

|About: Fifth Street Finance (FSC)|By:, SA News Editor

Alone in the green in the BDC complex in early acton is Fifth Street Finance (FSC +1.5%) after boosting its dividend by 10% last night.

The company's stock went into the penalty box late last year after a "frustrating" FQ4 and a cut in the monthly payout. With initiatives put in place to improve performance apparently working, management more than three months ago hinted at an increase in the dividend.

For reference, the stock was trading at about $10.19 per share ahead of last November's tough report and was still in the low $9s this spring. The current price is $10.12.