UDF's Dividend Pay out Ratio	(Sep 30 2015) III. Quarter	(Jun 30 2015) II. Quarter	(Mar 31 2015) I. Quarter	(Dec 31 2014) IV. Quarter	(Sep 30 2014) III. Quarter
Earnings per Share	$ 0.47	$ 0.47	$ 0.47	$ 0.43	$ 0.44
Dividend	$ 0.41	$ 0.41	$ 0.41	$ 0.45	$ 0.34
Pay out Ratio	87.23 %	87.23 %	87.23 %	104.65 %	77.27 %

Dividend Pay out Ratio Comment

United Development Funding Iv's Eps grew in III. Quarter by 6.82% compare to a year ago, while dividend increased to 0.41$, this led to improvement in dividend pay out ratio to 87.23%.

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United Development Funding Iv's

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