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

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Harvest Capital Credit Corp (NASDAQ:HCAP) declared a monthly dividend on Tuesday, May 7th, Wall Street Journal reports. Stockholders of record on Thursday, June 20th will be given a dividend of 0.08 per share by the investment management company on Thursday, June 27th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 9.12%. The ex-dividend date of this dividend is Wednesday, June 19th.

Harvest Capital Credit has decreased its dividend payment by an average of 5.0% per year 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 fall. Research analysts expect Harvest Capital Credit to earn $1.06 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 90.6%.

HCAP traded up $0.03 during trading on Tuesday, hitting $10.52. The company had a trading volume of 4,173 shares, compared to its average volume of 8,874. The company has a market cap of $64.70 million, a P/E ratio of 11.31 and a beta of 0.69. The stock has a 50-day moving average of $10.39. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 0.44. Harvest Capital Credit has a 1-year low of $9.31 and a 1-year high of $11.65.

Harvest Capital Credit (NASDAQ:HCAP) last posted its quarterly earnings results on Tuesday, May 14th. The investment management company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.04). The company had revenue of $3.04 million during the quarter, compared to analyst estimates of $3.39 million. Harvest Capital Credit had a net margin of 19.75% and a return on equity of 7.08%. Sell-side analysts predict that Harvest Capital Credit will post 0.71 earnings per share for the current year.

Separately, Zacks Investment Research raised shares of Harvest Capital Credit from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 21st.

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Harvest Capital Credit Company Profile

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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