{"id":957785,"date":"2026-05-04T16:31:46","date_gmt":"2026-05-04T20:31:46","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/great-elm-capital-corp-announces-first-quarter-2026-financial-results\/"},"modified":"2026-05-04T16:31:46","modified_gmt":"2026-05-04T20:31:46","slug":"great-elm-capital-corp-announces-first-quarter-2026-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/great-elm-capital-corp-announces-first-quarter-2026-financial-results\/","title":{"rendered":"Great Elm Capital Corp. Announces First Quarter 2026 Financial Results"},"content":{"rendered":"
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\n Company to Host Conference Call and Webcast at 8:30 AM ET on May 5, 2026<\/strong>
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\n Jason Reese, Executive Chairman of the Board of Directors, Appointed as CEO of the Company<\/em>
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\n GECC\u2019s Investment Adviser Waives 2Q26 Incentive Fees, Following the Waiver of $2.8 Million, or $0.20 Per Share, of Accrued Incentive Fees through March 31, 2026<\/em>
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\n Net Investment Income (\u201cNII\u201d) of $0.36 Per Share in 1Q26 Grew Approximately 13% Quarter-over-Quarter<\/em>
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\n NAV of $7.74 Per Share as of March\u00a031, 2026 <\/em>
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\n Called or Repurchased All $57.5 Million of GECCO Notes due June 2026, Leaving No Funded Debt Maturity Until 2029<\/em>
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\n Strong Liquidity Position with Approximately $10 Million of Cash and Equivalents, $50 Million of Revolving Credit Facility Availability, and Ample Liquid Assets as of March\u00a031, 2026<\/em>
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\n Repurchased Approximately 1% of GECC’s Outstanding Shares at an Average 36% Discount to March 31, 2026, NAV<\/em>
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\n Board Declares $0.25 Per Share Distribution for 2Q26, Resulting in an Annualized Dividend Yield of 18% on GECC\u2019s Closing Price as of May 1, 2026<\/em>
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PALM BEACH GARDENS, Fla., May 04, 2026 (GLOBE NEWSWIRE) — Great Elm Capital Corp. (\u201cwe,\u201d \u201cour,\u201d the \u201cCompany\u201d or \u201cGECC\u201d) (NASDAQ: GECC), a business development company, today announced its financial results for the first quarter ended March 31, 2026.<\/p>\n

\n Management Commentary<\/strong>\n <\/p>\n

Jason Reese, Chairman of the Board of Directors and Chief Executive Officer of the Company, stated, \u201cI am honored to step into the role of CEO of GECC. In my first few months as Executive Chairman, I have focused on executing a clear mandate: Strengthening oversight, protecting shareholder value, and reinforcing accountability across the platform. The progress we have made this quarter reflects that commitment. We have brought greater rigor, transparency, and accountability to the platform, and I am encouraged by the direction of the portfolio and the quality of the team executing on our strategy. I would like to thank Matt Kaplan for his leadership during his tenure as CEO. Matt will continue in his role as Portfolio Manager.<\/p>\n

The Manager’s decision to waive all accrued and unpaid incentive fees through the second quarter of 2026 demonstrates alignment with GECC shareholders. We remain focused on increasing net asset value, improving earnings quality, and positioning GECC for sustainable performance. With a strong foundation in place and continued discipline across credit underwriting and portfolio oversight, I am confident we are well-positioned to navigate the current market environment and deliver attractive, risk-adjusted returns to our investors. Our first quarter results exhibit meaningful progress in building a portfolio positioned for durable, long-term performance. At quarter end, GECC had less than 1% of investments on nonaccrual, a stark contrast to our peers.<\/p>\n

While capital deployment remained measured during the quarter given the historically tight spread environment, we expanded our private credit pipeline and further diversified the portfolio. We ended the period with ample liquidity, including meaningful cash on hand, full availability under our revolving credit facility, and a healthy base of liquid assets.\u201d<\/p>\n

\n Recent Board Actions and Shareholder Returns<\/strong>\n <\/p>\n