Great Elm Capital Corp. Announces Quarterly Dividend of $0.35 (NASDAQ:GECC)

Great Elm Capital Corp. (NASDAQ:GECC) declared a quarterly dividend on Thursday, August 1st, Zacks reports. Stockholders of record on Monday, September 16th will be given a dividend of 0.35 per share by the financial services provider on Monday, September 30th. This represents a $1.40 annualized dividend and a dividend yield of 14.00%. The ex-dividend date of this dividend is Monday, September 16th.

Great Elm Capital has decreased its dividend by an average of 2.1% annually over the last three years. Great Elm Capital has a payout ratio of 94.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Great Elm Capital to earn $1.48 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 94.6%.

Great Elm Capital Trading Down 1.5 %

Great Elm Capital stock opened at $10.00 on Friday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.30 and a current ratio of 0.30. The stock has a 50-day simple moving average of $10.37 and a 200 day simple moving average of $10.40. The stock has a market capitalization of $104.50 million, a P/E ratio of 4.55 and a beta of 1.60. Great Elm Capital has a 52 week low of $8.38 and a 52 week high of $11.82.

Great Elm Capital (NASDAQ:GECC) last posted its earnings results on Thursday, August 1st. The financial services provider reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). Great Elm Capital had a return on equity of 11.40% and a net margin of 27.61%. The business had revenue of $9.55 million for the quarter, compared to analyst estimates of $9.77 million. During the same period in the previous year, the firm posted $0.44 earnings per share. Analysts expect that Great Elm Capital will post 1.42 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Matthew A. Drapkin acquired 3,189 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was purchased at an average cost of $10.01 per share, for a total transaction of $31,921.89. Following the completion of the transaction, the director now directly owns 64,806 shares of the company’s stock, valued at approximately $648,708.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 10.20% of the stock is currently owned by insiders.

Great Elm Capital Company Profile

Great Elm Capital Corp. is a business development company which specializes in loan and mezzanine, middle market investments. It invests in the debt instruments of middle market companies. The fund prefers to invest in media, commercial services and supplies, healthcare, telecommunication services, communications equipment.