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 dividend on an annualized basis and a dividend yield of 22.69%. The ex-dividend date is Tuesday, September 29th.
Great Elm Capital has a dividend payout ratio of 111.1% indicating that 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%.
Shares of NASDAQ:GECC opened at $4.39 on Wednesday. The stock has a market capitalization of $44.17 million, a P/E ratio of 4.14 and a beta of 1.74. Great Elm Capital has a 1-year low of $2.09 and a 1-year high of $8.30. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 2.36. The business has a 50-day moving average price of $3.79 and a two-hundred day moving average price of $5.45.
Great Elm Capital (NASDAQ:GECC) last announced its quarterly earnings data on Monday, May 11th. The financial services provider reported $0.26 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.26. Great Elm Capital had a positive return on equity of 12.98% and a negative net margin of 181.02%. The firm had revenue of $6.43 million during the quarter, compared to analysts’ expectations of $6.90 million. As a group, equities analysts predict that Great Elm Capital will post 0.9 EPS for the current year.
Several brokerages recently issued reports on GECC. ValuEngine lowered Great Elm Capital from a “hold” rating to a “sell” rating in a research report on Thursday, April 2nd. Zacks Investment Research downgraded 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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