Stellus Capital Investment Corporation (NYSE:SCM) Declares $0.11 Monthly Dividend
Stellus Capital Investment Corporation (NYSE:SCM) declared a monthly dividend on Tuesday, July 11th, Wall Street Journal reports. Stockholders of record on Monday, July 31st will be paid a dividend of 0.1133 per share by the investment management company on Tuesday, August 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 9.98%. The ex-dividend date of this dividend is Thursday, July 27th.
Stellus Capital Investment Corporation has a dividend payout ratio of 104.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Stellus Capital Investment Corporation to earn $1.41 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 96.5%.
Shares of Stellus Capital Investment Corporation (SCM) traded up 0.22% during trading on Tuesday, hitting $13.65. The stock had a trading volume of 47,586 shares. The stock’s 50 day moving average price is $13.86 and its 200-day moving average price is $13.66. Stellus Capital Investment Corporation has a one year low of $10.22 and a one year high of $14.82.
A number of research analysts have commented on SCM shares. ValuEngine lowered shares of Stellus Capital Investment Corporation from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 11th. Raymond James Financial, Inc. upgraded shares of Stellus Capital Investment Corporation from a “market perform” rating to an “outperform” rating and set a $15.00 price objective on the stock in a research note on Monday, April 10th. Zacks Investment Research lowered shares of Stellus Capital Investment Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, May 13th. Keefe, Bruyette & Woods set a $15.00 price objective on shares of Stellus Capital Investment Corporation and gave the company a “hold” rating in a research note on Wednesday, May 31st. Finally, Janney Montgomery Scott upgraded shares of Stellus Capital Investment Corporation from a “neutral” rating to a “buy” rating in a research note on Monday, March 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Stellus Capital Investment Corporation presently has a consensus rating of “Buy” and a consensus target price of $13.20.
In other news, insider Robert T. Ladd purchased 6,000 shares of the company’s stock in a transaction dated Wednesday, May 10th. The shares were acquired at an average cost of $13.52 per share, for a total transaction of $81,120.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dean D’angelo purchased 6,500 shares of the company’s stock in a transaction dated Tuesday, June 13th. The shares were purchased at an average price of $13.35 per share, for a total transaction of $86,775.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 35,400 shares of company stock worth $473,738. Company insiders own 4.20% of the company’s stock.
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About Stellus Capital Investment Corporation
Stellus Capital Investment Corporation is a closed-end, non-diversified management investment company. The Company originates and invests primarily in private middle-market companies through first lien, second lien, unitranche and mezzanine debt financing, with corresponding equity co-investments. The Company’s investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation.
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