Great Elm Capital Corp (NASDAQ:GECC) announced a monthly dividend on Monday, June 29th, Wall Street Journal reports. Shareholders of record on Wednesday, September 30th will be paid 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 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 GECC opened at $4.39 on Tuesday. Great Elm Capital has a 52-week low of $2.09 and a 52-week high of $8.30. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 2.36. The firm’s fifty day moving average is $3.77 and its two-hundred day moving average is $5.47. The stock has a market cap of $44.98 million, a PE ratio of -0.90 and a beta of 1.75.
GECC has been the topic of a number of recent analyst reports. ValuEngine cut shares of Great Elm Capital from a “hold” rating to a “sell” rating in a research 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 report on Tuesday, June 16th.
Great Elm Capital Company Profile
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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