Great Elm Capital Corp (NASDAQ:GECC) announced a monthly dividend on Friday, June 26th, Wall Street Journal reports. Shareholders of record on Friday, July 31st will be given a dividend of 0.083 per share by the financial services provider on Friday, August 21st. This represents a $1.00 dividend on an annualized basis and a yield of 21.99%. The ex-dividend date of this dividend is Thursday, July 30th.
Great Elm Capital has increased its dividend payment by an average of 500.0% annually over the last three years. Great Elm Capital has a payout ratio of 111.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Great Elm Capital to earn $0.59 per share next year, which means the company may not be able to cover its $1.00 annual dividend with an expected future payout ratio of 169.5%.
GECC opened at $4.53 on Tuesday. The stock has a market capitalization of $43.67 million, a P/E ratio of 4.09 and a beta of 1.78. Great Elm Capital has a 12 month low of $2.09 and a 12 month high of $8.30. The firm’s fifty day simple moving average is $4.25 and its 200 day simple moving average is $4.95. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 2.36.
Great Elm Capital (NASDAQ:GECC) last issued its quarterly earnings results on Monday, May 11th. The financial services provider reported $0.26 EPS for the quarter, hitting the consensus estimate of $0.26. Great Elm Capital had a negative net margin of 181.02% and a positive return on equity of 12.98%. The firm had revenue of $6.43 million for the quarter, compared to analysts’ expectations of $6.90 million. On average, equities research analysts predict that Great Elm Capital will post 0.9 EPS for the current fiscal year.
GECC has been the topic of a number of research analyst reports. ValuEngine cut shares of Great Elm Capital from a “hold” rating to a “sell” rating in a report on Thursday, April 2nd. Zacks Investment Research cut shares of Great Elm Capital from a “buy” rating to a “hold” rating in a report on Tuesday, July 21st.
About Great Elm Capital
Great Elm Capital Corporation is a business development company which specializes in loan and mezzanine, middle market investments. The fund prefers to invest in media, commercial services and supplies, healthcare, telecommunication services, communications equipment. It typically makes equity investments between $3 million and $10 million in companies with revenues between $3 million and $75 million.
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