Stellus Capital Investment Co. (NYSE:SCM) Raises Dividend to $0.09 Per Share

Stellus Capital Investment Co. (NYSE:SCM) announced a monthly dividend on Thursday, September 16th, Wall Street Journal reports. Investors of record on Friday, October 29th will be given a dividend of 0.0933 per share by the investment management company on Monday, November 15th. This represents a $1.12 annualized dividend and a yield of 8.39%. The ex-dividend date is Thursday, October 28th. This is a positive change from Stellus Capital Investment’s previous monthly dividend of $0.09.

Stellus Capital Investment has a dividend payout ratio of 90.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Stellus Capital Investment to earn $1.19 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 84.0%.

NYSE SCM opened at $13.35 on Friday. The company has a market capitalization of $260.14 million, a PE ratio of 7.46 and a beta of 1.38. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.11 and a current ratio of 0.11. The business’s fifty day moving average is $13.11 and its 200 day moving average is $13.01. Stellus Capital Investment has a fifty-two week low of $7.90 and a fifty-two week high of $13.75.

Stellus Capital Investment (NYSE:SCM) last posted its quarterly earnings data on Sunday, August 1st. The investment management company reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.01). Stellus Capital Investment had a net margin of 61.55% and a return on equity of 8.13%. On average, sell-side analysts forecast that Stellus Capital Investment will post 1.17 EPS for the current year.

Separately, Zacks Investment Research raised shares of Stellus Capital Investment from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a report on Friday.

A hedge fund recently raised its stake in Stellus Capital Investment stock. Morgan Stanley grew its holdings in Stellus Capital Investment Co. (NYSE:SCM) by 5.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,491 shares of the investment management company’s stock after purchasing an additional 1,425 shares during the quarter. Morgan Stanley owned 0.14% of Stellus Capital Investment worth $349,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Stellus Capital Investment Company Profile

Stellus Capital Investment Corp. is an externally managed, closed-end, non-diversified management investment company. Its investment objective is to maximize the total return to stockholders in the form of current income and capital appreciation. The company was founded on May 18, 2012 and is headquartered in Houston, TX.

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Dividend History for Stellus Capital Investment (NYSE:SCM)

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