Great Elm Capital Corp (NASDAQ:GECC) Plans Monthly Dividend of $0.08

Great Elm Capital Corp (NASDAQ:GECC) announced a monthly dividend on Tuesday, March 26th, Wall Street Journal reports. Shareholders of record on Friday, June 28th will be paid a dividend of 0.083 per share by the financial services provider on Monday, July 15th. This represents a $1.00 annualized dividend and a yield of 11.19%. The ex-dividend date of this dividend is Thursday, June 27th.

Great Elm Capital has a dividend payout ratio of 67.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Great Elm Capital to earn $1.02 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 98.0%.

NASDAQ:GECC opened at $8.90 on Wednesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.09 and a quick ratio of 0.09. The business has a fifty day simple moving average of $8.72. Great Elm Capital has a 1-year low of $7.47 and a 1-year high of $10.07. The firm has a market capitalization of $92.68 million, a price-to-earnings ratio of 6.74 and a beta of 0.72.

Great Elm Capital (NASDAQ:GECC) last posted its earnings results on Tuesday, May 14th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. Great Elm Capital had a net margin of 11.68% and a return on equity of 11.94%. The company had revenue of $6.31 million during the quarter, compared to the consensus estimate of $6.71 million. Equities research analysts forecast that Great Elm Capital will post 1 EPS for the current fiscal year.

GECC has been the subject of a number of recent research reports. Zacks Investment Research upgraded Great Elm Capital from a “hold” rating to a “buy” rating and set a $9.50 price objective for the company in a research note on Tuesday, May 14th. ValuEngine upgraded Great Elm Capital from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st.

In other news, major shareholder Mast Capital Management, Llc sold 115,200 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $8.21, for a total value of $945,792.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Peter A. Reed bought 3,143 shares of the stock in a transaction dated Thursday, June 6th. The stock was bought at an average price of $8.50 per share, for a total transaction of $26,715.50. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 15,143 shares of company stock worth $128,876 and sold 743,000 shares worth $6,349,612. 1.40% of the stock is owned by corporate insiders.

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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Dividend History for Great Elm Capital (NASDAQ:GECC)

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