Stellus Capital Investment Co. (NYSE:SCM) declared a monthly dividend on Thursday, September 16th, Wall Street Journal reports. Stockholders 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 dividend yield of 8.39%. The ex-dividend date is Thursday, October 28th. This is a boost from Stellus Capital Investment’s previous monthly dividend of $0.09.
Stellus Capital Investment has a 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. Equities research 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%.
SCM opened at $13.35 on Friday. Stellus Capital Investment has a 12-month low of $7.90 and a 12-month high of $13.75. The company has a market cap of $260.14 million, a price-to-earnings ratio of 7.46 and a beta of 1.38. The company’s 50 day moving average is $13.11 and its 200 day moving average is $13.01. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 1.19.
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 first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,491 shares of the investment management company’s stock after purchasing an additional 1,425 shares during the period. Morgan Stanley owned approximately 0.14% of Stellus Capital Investment worth $349,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 19.33% of the company’s stock.
Separately, Zacks Investment Research raised Stellus Capital Investment from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Friday.
About Stellus Capital Investment
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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