Garrison Capital Inc (GARS) to Issue $0.23 Quarterly Dividend

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 dividend yield of 11.54%. The ex-dividend date is Thursday, December 6th.

Garrison Capital has decreased its dividend payment by an average of 7.2% per year over the last three years. Garrison Capital has a dividend payout ratio of 100.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Garrison Capital to earn $1.00 per share next year, which means the company may not be able to cover its $1.12 annual dividend with an expected future payout ratio of 112.0%.

Shares of NASDAQ:GARS traded up $0.02 during trading on Thursday, reaching $7.97. The company’s stock had a trading volume of 29,540 shares, compared to its average volume of 37,206. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.29. Garrison Capital has a 12 month low of $7.77 and a 12 month high of $8.95. The company has a market cap of $129.52 million, a price-to-earnings ratio of 7.44 and a beta of 0.34.

Garrison Capital (NASDAQ:GARS) last announced its quarterly earnings results on Tuesday, November 6th. The investment management company reported $0.23 EPS for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.05). Garrison Capital had a net margin of 25.90% and a return on equity of 9.33%. The business had revenue of $9.31 million during the quarter, compared to the consensus estimate of $9.78 million. As a group, equities analysts forecast that Garrison Capital will post 1.12 EPS for the current year.

A number of brokerages have recently commented on GARS. ValuEngine lowered shares of Garrison Capital from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. Zacks Investment Research raised shares of Garrison Capital from a “hold” rating to a “strong-buy” rating and set a $9.50 target price on the stock in a research report on Wednesday, October 10th. Maxim Group raised their target price 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. Finally, National Securities raised their target price 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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About Garrison Capital

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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