Great Elm Capital Corp (NASDAQ:GECC) declared a monthly dividend on Monday, June 29th, Wall Street Journal reports. Investors of record on Wednesday, September 30th will be given a dividend of 0.083 per share by the financial services provider on Wednesday, October 21st. This represents a $1.00 annualized dividend and a yield of 22.69%. The ex-dividend date is Tuesday, September 29th.
Great Elm Capital has a dividend 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 research 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%.
Shares of NASDAQ:GECC traded down $0.08 on Monday, hitting $4.39. 75,115 shares of the company’s stock were exchanged, compared to its average volume of 152,476. Great Elm Capital has a 1-year low of $2.14 and a 1-year high of $8.50. The company has a market capitalization of $44.97 million, a PE ratio of -0.90 and a beta of 1.75. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.32 and a current ratio of 0.32. The firm’s 50-day moving average is $3.69 and its 200 day moving average is $5.52.
Great Elm Capital (NASDAQ:GECC) last posted its earnings results on Monday, May 11th. The financial services provider reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. The firm had revenue of $6.43 million during the quarter, compared to analysts’ expectations of $6.90 million. Great Elm Capital had a positive return on equity of 12.98% and a negative net margin of 181.02%. On average, analysts anticipate that Great Elm Capital will post 0.9 EPS for the current fiscal year.
GECC has been the topic of several research analyst reports. ValuEngine lowered shares of Great Elm Capital from a “hold” rating to a “sell” rating in a research note on Thursday, April 2nd. Zacks Investment Research cut Great Elm Capital from a “buy” rating to a “hold” rating in a research report on Tuesday, June 16th.
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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