Great Elm Capital Corp (GECC)

[IanWhitfield]

Yes. It was announced in the quarterly filings on November 9th.

http://www.investor.greatelmcc.com/static-files/b915df09-5bdf-4c02-ac58-b37eb3c51ba8

Scroll down to the next to the last page. Exhibit 99.3

GREAT ELM CAPITAL CORP. DECLARES QUARTERLY CASH DISTRIBUTION
OF $0.10 PER SHARE

WALTHAM, MA, November 9, 2020 – Great Elm Capital Corp. (“we,” “us,” “our,” “GECC,” or “Great Elm BDC”), (NASDAQ: GECC), a business development company (BDC), today announced that Great Elm BDC’s Board set the distribution for the quarter ending March 31, 2021 at $0.10 per
quarter.

The distributions will be paid in cash and covered by net investment income. The record and payment dates for the distribution are expected to be set by GECC in December pursuant to authority granted by the Board.

Peter A. Reed, GECC’s Chief Executive Officer, stated, “We were pleased to increase the cash portion of our distribution while maintaining a favorable overall return to shareholders following the completion of our rights offering. On an annualized basis, this currently represents a 9.6% yield on NAV (based on Net Asset Value of $90.8 million, or $4.18 per share, after giving effect to the rights offering) and a 15.4% yield on the November 6, 2020 closing price of $2.60.

These foot notes were also on page 24 of the Investor Presentation from November 9th which was Exhibit 99.2

The Company had previously delivered a monthly distribution of $0.083 per share.

The majority of our fourth quarter 2020 distributions will be paid in shares of common stock in order to maximize liquidity and strengthen our balance sheet.