Garrison Capital Inc (NASDAQ:GARS) announced a quarterly dividend on Thursday, November 8th, Wall Street Journal reports. Shareholders of record on Friday, December 7th will be paid a dividend of 0.23 per share by the investment management company on Friday, December 21st. This represents a $0.92 dividend on an annualized basis and a dividend yield of 12.19%. The ex-dividend date of this dividend is Thursday, December 6th.
Garrison Capital has decreased its dividend by an average of 7.2% per year over the last three years. Garrison Capital has a payout ratio of 82.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Garrison Capital to earn $0.93 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 98.9%.
Shares of NASDAQ:GARS opened at $7.55 on Wednesday. The firm has a market cap of $121.17 million, a price-to-earnings ratio of 7.05 and a beta of 0.34. Garrison Capital has a 12-month low of $7.31 and a 12-month high of $8.95. The company has a debt-to-equity ratio of 1.35, a current ratio of 3.11 and a quick ratio of 3.11.
Several research analysts recently commented on GARS shares. Maxim Group reiterated a “buy” rating and issued a $11.00 target price on shares of Garrison Capital in a report on Thursday, August 9th. ValuEngine downgraded shares of Garrison Capital from a “hold” rating to a “sell” rating in a report on Tuesday, September 4th. Zacks Investment Research downgraded shares of Garrison Capital from a “buy” rating to a “hold” rating in a report on Tuesday, November 13th. Finally, National Securities reiterated a “buy” rating and issued a $11.00 target price on shares of Garrison Capital in a report on Monday, November 12th.
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About Garrison Capital
Garrison Capital Inc is a business development company specializing in investments primarily in the debt and equity of middle market companies. It seeks to invest in first lien senior secured loans, second lien senior secured loans, ?one-stop? senior secured or ?unitranche? loans, subordinated or mezzanine loans, unsecured consumer loans and to a lesser extent, selected equity co-investments in middle-market companies, warrants and minority equity securities in United States middle-market companies.
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