Great Elm Capital Corp (NASDAQ:GECC) declared a monthly dividend on Monday, June 29th, Wall Street Journal reports. Shareholders 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 dividend on an annualized basis 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 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 opened at $4.39 on Wednesday. Great Elm Capital has a 12 month low of $2.09 and a 12 month high of $8.30. The company has a debt-to-equity ratio of 2.36, a current ratio of 0.32 and a quick ratio of 0.32. The company has a market capitalization of $44.17 million, a price-to-earnings ratio of 4.14 and a beta of 1.74. The company’s fifty day moving average price is $3.79 and its two-hundred day moving average price is $5.45.
A number of analysts recently weighed in on the stock. ValuEngine cut shares of Great Elm Capital from a “hold” rating to a “sell” rating in a report on Thursday, April 2nd. Zacks Investment Research cut shares of Great Elm Capital from a “buy” rating to a “hold” rating in a research note 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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