Stellus Capital Investment Corporation Plans Monthly Dividend of $0.11 (SCM)
Stellus Capital Investment Corporation (NYSE:SCM) announced a monthly dividend on Tuesday, July 11th, Wall Street Journal reports. Shareholders of record on Friday, September 29th will be given a dividend of 0.1133 per share by the investment management company on Friday, October 13th. This represents a $1.36 dividend on an annualized basis and a yield of 9.98%. The ex-dividend date is Thursday, September 28th.
Stellus Capital Investment Corporation has a dividend payout ratio of 104.6% meaning 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%.
Stellus Capital Investment Corporation (NYSE SCM) traded up 0.22% during mid-day trading on Tuesday, reaching $13.65. 47,586 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $13.86 and a 200 day moving average price of $13.66. Stellus Capital Investment Corporation has a 52-week low of $10.22 and a 52-week high of $14.82.
A number of research firms have weighed in on SCM. ValuEngine raised Stellus Capital Investment Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. Zacks Investment Research downgraded Stellus Capital Investment Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, May 13th. Keefe, Bruyette & Woods set a $15.00 price target on Stellus Capital Investment Corporation and gave the stock a “hold” rating in a research report on Wednesday, May 31st. Raymond James Financial, Inc. raised Stellus Capital Investment Corporation from a “market perform” rating to an “outperform” rating and set a $15.00 price objective for the company in a report on Monday, April 10th. Finally, Janney Montgomery Scott raised Stellus Capital Investment Corporation from a “neutral” rating to a “buy” rating in a report on Monday, March 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $13.20.
In related news, Director Dean D’angelo acquired 6,500 shares of the business’s stock in a transaction dated Tuesday, June 13th. The stock was bought at an average price of $13.35 per share, with a total value of $86,775.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Robert T. Ladd acquired 14,000 shares of the business’s stock in a transaction dated Tuesday, June 13th. The stock was bought at an average cost of $13.43 per share, with a total value of $188,020.00. The disclosure for this purchase can be found here. In the last three months, insiders bought 35,400 shares of company stock valued at $473,738. 4.20% of the stock is currently owned by insiders.
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Stellus Capital Investment Corporation Company Profile
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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