Great Elm Capital Corp (NASDAQ:GECC) announced a monthly dividend on Friday, June 26th, Wall Street Journal reports. Investors of record on Friday, July 31st will be paid 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 22.74%. The ex-dividend date is Thursday, July 30th.
Great Elm Capital has a payout ratio of 111.1% 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 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%.
NASDAQ:GECC traded up $0.09 on Friday, hitting $4.38. The stock had a trading volume of 94,000 shares, compared to its average volume of 90,567. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 2.36. Great Elm Capital has a 52 week low of $2.14 and a 52 week high of $8.50. The business’s fifty day moving average is $3.67 and its 200 day moving average is $5.54. The company has a market cap of $43.17 million, a PE ratio of -0.89 and a beta of 1.74.
Great Elm Capital (NASDAQ:GECC) last issued its earnings results on Monday, May 11th. The financial services provider reported $0.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.26. Great Elm Capital had a positive return on equity of 12.98% and a negative net margin of 181.02%. The company had revenue of $6.43 million for the quarter, compared to analyst estimates of $6.90 million. Equities analysts predict that Great Elm Capital will post 0.9 earnings per share for the current fiscal year.
GECC has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of Great Elm Capital from a “buy” rating to a “hold” rating in a research note on Tuesday, June 16th. ValuEngine cut shares of Great Elm Capital from a “hold” rating to a “sell” rating in a research report on Thursday, April 2nd.
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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