Great Elm Capital Corp. (NASDAQ:GECC) Files An 8-K Other Events
Item 8.01 Other Events.
Great Elm Capital Corp. (the “Company”) declared the record and payment dates for its previously announced third quarter 2020 monthly base distribution of $0.083 per share. The distributions will be paid in cash or shares of the Company’s common stock at the election of the shareholders, although the total amount of cash to be distributed to all shareholders will be limited to approximately 10% of the total distributions to be paid to all shareholders. The remainder of the distributions (approximately 90%) will be paid in the form of shares of the Company’s common stock. These distributions are being made in accordance with the terms of the indentures governing the Company’s outstanding notes and certain applicable Treasury regulations and private letter rulings on cash/stock dividends issued by the IRS that allow a publicly-traded regulated investment company to satisfy its distribution requirements from distributions paid partly in common stock provided that at least 10% of the distributions are payable in cash and certain other requirements are satisfied.
The schedule of distribution payments is as follows: