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

Great Elm Capital Corp. (NASDAQ:GECC) announced a quarterly dividend on Thursday, October 31st, Zacks reports. Shareholders 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 yield of 14.46%. The ex-dividend date is Monday, December 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 dividend 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. Equities 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 Price Performance

Shares of NASDAQ GECC traded down $0.35 during midday trading on Friday, reaching $9.68. 20,350 shares of the stock traded hands, compared to its average volume of 11,621. Great Elm Capital has a one year low of $8.38 and a one year high of $11.82. 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 company’s 50 day moving average is $10.18 and its 200 day moving average is $10.26. The stock has a market capitalization of $101.16 million, a PE ratio of 7.01 and a beta of 1.60.

Great Elm Capital (NASDAQ:GECC) last announced its quarterly earnings data 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 firm had revenue of $9.55 million during the quarter, compared to the consensus estimate of $9.77 million. During the same period last year, the company earned $0.44 EPS. On average, equities research analysts anticipate that Great Elm Capital will post 1.42 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Matthew A. Drapkin bought 9,600 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was purchased at an average cost of $9.92 per share, for a total transaction of $95,232.00. Following the purchase, the director now directly owns 75,716 shares in the company, valued at approximately $751,102.72. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Great Elm Capital news, Director Matthew A. Drapkin acquired 3,189 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was 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 approximately $648,708.06. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Matthew A. Drapkin purchased 9,600 shares of Great Elm Capital stock in a transaction on Monday, September 16th. The stock was bought at an average cost of $9.92 per share, for a total transaction of $95,232.00. Following the transaction, the director now directly owns 75,716 shares in the company, valued at $751,102.72. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 10.20% of the stock is owned by company insiders.

About Great Elm Capital

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.