Great Elm Capital Corp. Announces Special Cash Distribution
Great Elm Capital Corp. Unveils Special Cash Distribution
Great Elm Capital Corp. (the "Company" or "GECC"), a prominent business development company, has exciting news for its shareholders. Recently, the Company declared a special cash distribution of $0.05 per common share, showcasing a commitment to rewarding investors with direct returns. This distribution, referred to as the "Special Distribution," is set to be paid out on January 15, 2025, to all stockholders registered by December 31, 2024.
Quarterly Cash Distribution Overview
In conjunction with the special distribution, GECC's Board of Directors has approved a substantial quarterly cash distribution of $0.37 per share for the first quarter of 2025. This is more than just a monetary figure; it reflects a remarkable 14.5% annualized yield based on the Company’s closing market price. Shareholders can expect this payment on March 31, 2025, for stockholders on record as of March 17, 2025. This initiative not only aims to maintain satisfied shareholders but also indicates a positive outlook for the Company’s operations.
Leadership Commentary on the Increase
Matt Kaplan, the Chief Executive Officer of GECC, expressed his satisfaction regarding the increased distribution. The recent announcement reveals a 5.7% increase from the base quarterly distribution of $0.35 per share. As Kaplan highlighted, the Company is well-aligned to generate long-term income. The rise in distributions comes from a combination of effective management and strong operational performance throughout the past year. Kaplan's remarks highlight a promising future for GECC and its stakeholders.
Understanding Great Elm Capital Corp.
Great Elm Capital Corp. operates as an externally managed business development firm focused on generating income and capital appreciation. Their investment strategy includes various debt and income-generating securities, particularly targeting specialty finance companies and collateralized loan obligations (CLOs). In an economic environment marked by uncertainty, GECC remains strategic in its approach to investment, actively seeking opportunities that promise enduring value for its investors.
What Lies Ahead for GECC?
Looking towards the future, the company is strategizing ways to enhance its portfolio and deliver consistent returns to its stockholders. Investments in technology-driven markets and innovative sectors are likely to be areas of focus. With increasing competition and market evolution, GECC's approach to generating sustainable returns will be vital in establishing its reputation as a leading investment entity.
Frequently Asked Questions
What is the amount of the special cash distribution declared by GECC?
GECC declared a special cash distribution of $0.05 per common share.
When will the special cash distribution be paid to shareholders?
The special cash distribution will be paid on January 15, 2025.
What is the quarterly cash distribution for the first quarter of 2025?
The quarterly cash distribution for the first quarter of 2025 is set at $0.37 per share.
How has the distribution changed compared to previous amounts?
The base quarterly distribution increased by 5.7%, from $0.35 to $0.37 per share.
Who can I contact for more information regarding GECC?
For additional information, inquiries can be directed to the Investor Relations contact via email at investorrelations@greatelmcap.com.
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