Garrison Capital Inc (GARS) to Issue Quarterly Dividend of $0.23 on December 21st

Garrison Capital Inc (NASDAQ:GARS) declared a quarterly dividend on Thursday, November 8th, Wall Street Journal reports. Shareholders of record on Friday, December 7th will be given a dividend of 0.23 per share by the investment management company on Friday, December 21st. This represents a $0.92 annualized dividend and a yield of 12.19%. The ex-dividend date is Thursday, December 6th.

Garrison Capital has decreased its dividend by an average of 7.2% annually over the last three years. Garrison Capital has a payout ratio of 82.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Garrison Capital to earn $0.93 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 98.9%.

Garrison Capital stock opened at $7.55 on Wednesday. The company has a current ratio of 3.11, a quick ratio of 3.11 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $121.17 million, a price-to-earnings ratio of 7.05 and a beta of 0.34. Garrison Capital has a 1 year low of $7.31 and a 1 year high of $8.95.

Garrison Capital (NASDAQ:GARS) last posted its quarterly earnings results on Tuesday, November 6th. The investment management company reported $0.23 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.05). The business had revenue of $9.31 million during the quarter, compared to analyst estimates of $9.78 million. Garrison Capital had a return on equity of 9.39% and a net margin of 25.90%. Sell-side analysts predict that Garrison Capital will post 0.97 earnings per share for the current year.

Several research analysts have issued reports on GARS shares. Maxim Group lifted their price target on shares of Garrison Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, September 26th. Zacks Investment Research lowered shares of Garrison Capital from a “hold” rating to a “sell” rating in a research report on Friday, August 10th. ValuEngine upgraded shares of Garrison Capital from a “sell” rating to a “hold” rating in a research report on Wednesday, October 24th. Finally, National Securities lifted their price target on shares of Garrison Capital from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Monday, August 13th.

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Garrison Capital Company Profile

Garrison Capital Inc is a business development company specializing in investments primarily in the debt and equity of middle market companies. It seeks to invest in first lien senior secured loans, second lien senior secured loans, ?one-stop? senior secured or ?unitranche? loans, subordinated or mezzanine loans, unsecured consumer loans and to a lesser extent, selected equity co-investments in middle-market companies, warrants and minority equity securities in United States middle-market companies.

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Dividend History for Garrison Capital (NASDAQ:GARS)

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