Stellus Capital Investment Corp (SCM) Declares Monthly Dividend of $0.11
Stellus Capital Investment Corp (NYSE:SCM) announced a monthly dividend on Thursday, January 18th, Wall Street Journal reports. Investors of record on Thursday, March 29th will be given a dividend of 0.1133 per share by the investment management company on Friday, April 13th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 10.56%. The ex-dividend date is Wednesday, March 28th.
Stellus Capital Investment has raised its dividend payment by an average of 2.9% per year over the last three years. Stellus Capital Investment has a dividend payout ratio of 107.9% meaning 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 Stellus Capital Investment to earn $1.35 per share next year, which means the company may not be able to cover its $1.36 annual dividend with an expected future payout ratio of 100.7%.
Stellus Capital Investment (SCM) traded up $0.27 during trading hours on Thursday, hitting $12.88. The company had a trading volume of 78,048 shares, compared to its average volume of 109,527. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $205.38, a P/E ratio of 7.62 and a beta of 0.53. Stellus Capital Investment has a 12 month low of $11.57 and a 12 month high of $14.82.
In related news, CEO Robert T. Ladd acquired 55,693 shares of Stellus Capital Investment stock in a transaction on Tuesday, November 14th. The shares were bought at an average cost of $12.47 per share, with a total value of $694,491.71. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dean D’angelo acquired 12,500 shares of Stellus Capital Investment stock in a transaction on Friday, December 8th. The shares were bought at an average cost of $12.31 per share, for a total transaction of $153,875.00. Following the completion of the purchase, the director now directly owns 76,327 shares of the company’s stock, valued at $939,585.37. The disclosure for this purchase can be found here. Insiders have acquired 196,686 shares of company stock worth $2,439,120 over the last three months. 4.20% of the stock is currently owned by insiders.
A number of equities research analysts recently commented on SCM shares. ValuEngine upgraded Stellus Capital Investment from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 15th. Ladenburg Thalmann Financial Services started coverage on Stellus Capital Investment in a research report on Monday, September 25th. They issued a “buy” rating and a $14.50 target price on the stock. Zacks Investment Research downgraded Stellus Capital Investment from a “hold” rating to a “sell” rating in a research report on Thursday, January 11th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $14.00 target price on shares of Stellus Capital Investment in a research report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $14.50.
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Stellus Capital Investment 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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