Stellus Capital Investment Co. (NYSE:SCM) Declares Dividend Increase – $0.13 Per Share

by · The Cerbat Gem

Stellus Capital Investment Co. (NYSE:SCM – Get Free Report) announced a monthly dividend on Thursday, October 5th, Wall Street Journal reports. Stockholders of record on Monday, December 18th will be given a dividend of 0.1333 per share by the investment management company on Friday, December 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 12.39%. The ex-dividend date is Friday, December 15th. This is a positive change from Stellus Capital Investment’s previous monthly dividend of $0.13.

Stellus Capital Investment has decreased its dividend payment by an average of 4.6% annually over the last three years and has increased its dividend every year for the last 2 years. Stellus Capital Investment has a payout ratio of 89.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Stellus Capital Investment to earn $1.81 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 88.4%.

Stellus Capital Investment Price Performance

Stellus Capital Investment stock opened at $12.91 on Thursday. The company’s 50 day simple moving average is $12.92 and its 200-day simple moving average is $13.75. The company has a market capitalization of $311.52 million, a price-to-earnings ratio of 25.82 and a beta of 1.16. Stellus Capital Investment has a 1 year low of $12.19 and a 1 year high of $16.08. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.16 and a current ratio of 0.16.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Royal Bank of Canada grew its holdings in shares of Stellus Capital Investment by 48.7% in the third quarter. Royal Bank of Canada now owns 31,857 shares of the investment management company’s stock valued at $433,000 after purchasing an additional 10,429 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Stellus Capital Investment by 11.5% in the third quarter. Legal & General Group Plc now owns 159,014 shares of the investment management company’s stock valued at $2,162,000 after purchasing an additional 16,355 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Stellus Capital Investment by 183.1% in the third quarter. Tower Research Capital LLC TRC now owns 7,442 shares of the investment management company’s stock valued at $101,000 after purchasing an additional 4,813 shares in the last quarter. Qube Research & Technologies Ltd grew its holdings in Stellus Capital Investment by 120.0% during the 3rd quarter. Qube Research & Technologies Ltd now owns 30,869 shares of the investment management company’s stock worth $420,000 after acquiring an additional 16,835 shares in the last quarter. Finally, LPL Financial LLC grew its holdings in Stellus Capital Investment by 11.5% during the 3rd quarter. LPL Financial LLC now owns 11,838 shares of the investment management company’s stock worth $161,000 after acquiring an additional 1,218 shares in the last quarter. Institutional investors and hedge funds own 14.69% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Stellus Capital Investment from a “sell” rating to a “hold” rating in a research note on Tuesday, December 5th.

Get Our Latest Stock Report on SCM

Stellus Capital Investment Company Profile

(Get Free Report)

Stellus Capital Investment Corporation is a business development company specializing in investments in private middle-market companies. It invests through first lien, second lien, unitranche, and mezzanine debt financing, often with a corresponding equity investment. The fund prefers to invest in US and Canada.

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