Harvest Capital Credit Corp to Issue Monthly Dividend of $0.08 (NASDAQ:HCAP)

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Harvest Capital Credit Corp (NASDAQ:HCAP) declared a monthly dividend on Thursday, August 1st, NASDAQ reports. Shareholders of record on Thursday, September 19th will be given a dividend of 0.08 per share by the investment management company on Thursday, September 26th. This represents a $0.96 annualized dividend and a yield of 9.50%. The ex-dividend date of this dividend is Wednesday, September 18th.

Harvest Capital Credit has decreased its dividend payment by an average of 5.0% annually over the last three years. Harvest Capital Credit has a payout ratio of 100.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Harvest Capital Credit to earn $0.98 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 98.0%.

HCAP stock opened at $10.10 on Tuesday. Harvest Capital Credit has a 1-year low of $9.31 and a 1-year high of $11.65. The company has a debt-to-equity ratio of 0.76, a current ratio of 10.39 and a quick ratio of 10.39. The company has a market capitalization of $61.00 million, a price-to-earnings ratio of 10.86 and a beta of 0.68. The business has a 50 day simple moving average of $10.00 and a two-hundred day simple moving average of $10.29.

Harvest Capital Credit (NASDAQ:HCAP) last posted its quarterly earnings results on Friday, August 9th. The investment management company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.02). Harvest Capital Credit had a return on equity of 6.25% and a net margin of 16.14%. The business had revenue of $2.99 million during the quarter, compared to the consensus estimate of $3.50 million. Sell-side analysts anticipate that Harvest Capital Credit will post 0.67 EPS for the current fiscal year.

In other Harvest Capital Credit news, CEO Joseph A. Jolson purchased 6,078 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average cost of $9.85 per share, for a total transaction of $59,868.30. Following the purchase, the chief executive officer now directly owns 20,000 shares of the company’s stock, valued at approximately $197,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Joseph A. Jolson purchased 15,000 shares of the company’s stock in a transaction on Friday, September 6th. The stock was acquired at an average price of $9.77 per share, with a total value of $146,550.00. Following the completion of the purchase, the chief executive officer now directly owns 20,000 shares in the company, valued at $195,400. The disclosure for this purchase can be found here. Insiders acquired a total of 33,632 shares of company stock valued at $329,866 over the last 90 days. 13.40% of the stock is currently owned by corporate insiders.

Separately, Zacks Investment Research upgraded Harvest Capital Credit from a “sell” rating to a “hold” rating in a research note on Friday.

About Harvest Capital Credit

Harvest Capital Credit Corporation is a business development company providing structured credit to small businesses and specializing in leveraged buyouts, add-on acquisitions, recapitalizations, growth financings and debt refinancing investments. It prefers to invest in North America-based companies.

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Dividend History for Harvest Capital Credit (NASDAQ:HCAP)

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