WhiteHorse Finance, Inc.
WHFFinancial Services · Stock · quarterly payer
Forward Yield
15.43%
Annual Dividend
$1.00
Payout Ratio
312%
5-Yr Growth
-1.4%
Ex-Date
May 21, 2026
Frequency
Quarterly
Summary
As of July 2026, WhiteHorse Finance, Inc. (WHF) yields 15.43% ($1.00 per share annually), with a blended fair-value estimate of $11.57 — +79% upside, so it screens as undervalued. Dividend safety grade: D (47/100).
Is WHF a good dividend stock?
MixedWhiteHorse Finance, Inc. (WHF) pays a quarterly dividend yielding 15.43% ($1.00/yr), with 0 years of growth and a dividend-safety grade of D. The picture is mixed — the dividend pays, but safety or growth signals are weaker than ideal.
Advantages
Risks
- Cut its dividend in 2025
- Elevated payout ratio (312%)
- Dividend has been shrinking, not growing
- Very high yield can signal elevated risk
- Share price is down over the past 5 years
- Below-average dividend safety score
Key Data
- Dividend Yield
- 15.43%
- Payout Ratio
- 312%
- Annual Dividend
- $1.00
- 5-Yr Avg Growth
- -1.4%
- Ex-Dividend Date
- May 21, 2026
- Years of Growth
- 0
- Frequency
- quarterly
- Beta
- 0.41
- Market Cap
- $138.5M
- P/E Ratio
- 15.7
- 5-Yr Total Return
- -59%
- 52-Week Range
- $6.07 – $9.06
- Dividend Safety
- D · 47/100
- Ever Cut?
- Yes (2025)
Frequently Asked Questions
WHF Price — Last 12 Months
Daily close
Price Return
1 Year
-24%
3 Years
-50%
5 Years
-59%
52-Week Range
$6.07 – $9.06
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is WHF worth?
Undervaluedlow confidenceOur blended fair-value estimate for WhiteHorse Finance, Inc. is $11.57 per share, versus a market price of $6.48. That implies 79% of upside — a margin of safety of about 44%.
Fair Value
$11.57
Current Price
$6.48
Upside
+79%
Margin of Safety
44%
How we get there
Dividend discount
Discounts the future dividend stream back to today.
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
At today's price, the market is pricing in about -10.0% annual free-cash-flow growth. We model -5.0% — below our estimate, leaving room for upside if the business executes.
Assumptions: 7.0% discount rate (CAPM), -5.0% stage-1 growth, 2.5% terminal growth, $0.41 EPS, $1.00 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
WHF Dividend Safety Score
Risky
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| May 21, 2026 | — | $0.2500 | regular |
| Mar 12, 2026 | — | $0.2600 | regular |
| Dec 22, 2025 | — | $0.2500 | regular |
| Oct 31, 2025 | — | $0.0350 | regular |
| Sep 19, 2025 | — | $0.3850 | regular |
| Jun 18, 2025 | — | $0.3850 | regular |
| Mar 21, 2025 | — | $0.3850 | regular |
| Dec 20, 2024 | — | $0.3850 | regular |
| Oct 31, 2024 | — | $0.2450 | regular |
| Sep 18, 2024 | — | $0.3850 | regular |
| Jun 18, 2024 | — | $0.3850 | regular |
| Mar 21, 2024 | — | $0.3850 | regular |
| Dec 19, 2023 | — | $0.3850 | regular |
| Sep 18, 2023 | — | $0.3700 | regular |
Income Calculator
At $1.00 / yr per share
