Great Elm Capital Corp. (NASDAQ:GECC) Increases Dividend to $0.37 Per Share

Great Elm Capital Corp. (NASDAQ:GECC) announced a quarterly dividend on Tuesday, December 17th,Wall Street Journal reports. Shareholders of record on Monday, March 17th will be given a dividend of 0.37 per share by the financial services provider on Monday, March 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 13.93%. The ex-dividend date is Monday, March 17th. This is a positive change from Great Elm Capital’s previous quarterly dividend of $0.35.

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 dividend payout ratio of 98.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Great Elm Capital to earn $1.41 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 99.3%.

Great Elm Capital Price Performance

NASDAQ GECC opened at $10.63 on Wednesday. Great Elm Capital has a 12 month low of $9.55 and a 12 month high of $11.31. The firm has a market capitalization of $111.03 million, a PE ratio of 15.40 and a beta of 1.61. The company’s 50 day simple moving average is $10.16 and its 200 day simple moving average is $10.25. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.11 and a quick ratio of 0.11.

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.