GECC Q1 NII $0.37/share covers $0.35 dividend; NAV falls to $12.57 on $0.55 write-downs

Great Elm Capital Corp.

2024-Q1 EPS reported -$0.05

NII per share $0.37 vs $0.43 in Q4 2023; EPS ($0.05) due to unrealized losses.
NAV per share $12.57, down $0.42 from Dec 31, 2023, hit by $0.55 write-downs on illiquid legacy assets.
Asset coverage ratio improved to 180.2% (pro forma post-notes ~166.9%) from 169.0%.
Issued $34.5M of GECCI 8.50% notes due 2029 after quarter-end; repaid $5M revolver balance.
Board maintained $0.35 quarterly dividend, payable June 28 to holders of record June 14.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Great Elm Capital Corp. reported first quarter ended March 31, 2024 results: revenue $8.9 million, EPS ($0.05).

Period: first quarter ended March 31, 2024
Revenue: $8.9 million
EPS: ($0.05)
Result: reported results

Exact text from the filing

yield of 12.2%. Sales aggregated to $12.4 million at a weighted average current yield of 9.7%. Financial Review Total investment income for the quarter ended March 31, 2024 was $8.9 million, or $1.03 per share. Net expenses for the quarter ended March 31, 2024 were approximately $5.7 million, or $0.66 per share. Net realized and unrealized losses for the quarter

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Source: SEC EDGAR

accession 0000950170-24-052084

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