Great Elm Capital Corp (NASDAQ:GECC) declared a monthly dividend on Thursday, June 6th, Wall Street Journal reports. Stockholders of record on Wednesday, July 31st will be given a dividend of 0.083 per share by the financial services provider on Thursday, August 15th. This represents a $1.00 annualized dividend and a dividend yield of 11.45%. The ex-dividend date of this dividend is Tuesday, July 30th.
Great Elm Capital has a payout ratio of 67.6% meaning its dividend is sufficiently covered by earnings. Equities 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%.
Shares of GECC stock opened at $8.70 on Friday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.67. The firm has a market cap of $90.61 million, a P/E ratio of 6.59 and a beta of 0.72. The company has a 50-day moving average price of $8.74. Great Elm Capital has a twelve month low of $7.47 and a twelve month high of $10.07.
A number of analysts have recently issued reports on the company. Zacks Investment Research cut Great Elm Capital from a “hold” rating to a “sell” rating in a report on Wednesday, May 22nd. ValuEngine upgraded Great Elm Capital from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st.
In other Great Elm Capital news, major shareholder Mast Capital Management, Llc sold 115,200 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $8.21, for a total value of $945,792.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Peter A. Reed purchased 3,143 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was bought at an average price of $8.50 per share, with a total value of $26,715.50. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 15,143 shares of company stock valued at $128,876 and have sold 743,000 shares valued at $6,349,612. 1.40% of the stock is currently owned by 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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