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

Great Elm Capital Corp. (NASDAQ:GECC) announced a quarterly dividend on Thursday, October 31st, Zacks reports. Stockholders of record on Monday, December 16th will be paid a dividend of 0.35 per share by the financial services provider on Tuesday, December 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 14.46%. The ex-dividend date of this dividend is Monday, December 16th.

Great Elm Capital has decreased its dividend by an average of 2.1% per year over the last three years. Great Elm Capital has a payout ratio of 94.6% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research 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 3.5 %

NASDAQ:GECC traded down $0.35 during mid-day trading on Friday, reaching $9.68. The company’s stock had a trading volume of 20,350 shares, compared to its average volume of 11,621. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a market cap of $101.16 million, a P/E ratio of 7.01 and a beta of 1.60. The company’s fifty day simple moving average is $10.18 and its two-hundred day simple moving average is $10.26. Great Elm Capital has a twelve month low of $8.38 and a twelve month high of $11.82.

Great Elm Capital (NASDAQ:GECC) last released its earnings results on Thursday, August 1st. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $9.55 million during the quarter, compared to analyst estimates of $9.77 million. During the same period in the prior year, the business posted $0.44 earnings per share. On average, equities analysts predict that Great Elm Capital will post 1.42 EPS for the current year.

Insider Activity

In other news, Director Matthew A. Drapkin bought 3,189 shares of Great Elm Capital stock in a transaction that occurred on Tuesday, August 20th. The shares were purchased at an average price of $10.01 per share, for a total transaction of $31,921.89. Following the completion of the acquisition, the director now owns 64,806 shares of the company’s stock, valued at $648,708.06. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Great Elm Capital news, Director Matthew A. Drapkin purchased 3,189 shares of Great Elm Capital stock in a transaction on Tuesday, August 20th. The shares were purchased at an average cost of $10.01 per share, with a total value of $31,921.89. Following the completion of the transaction, the director now directly owns 64,806 shares in the company, valued at approximately $648,708.06. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Matthew A. Drapkin acquired 9,600 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was acquired at an average cost of $9.92 per share, with a total value of $95,232.00. Following the transaction, the director now directly owns 75,716 shares of the company’s stock, valued at approximately $751,102.72. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 10.20% of the company’s stock.

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.