Gladstone Capital Co. (NASDAQ:GLAD) Declares Monthly Dividend of $0.17

Gladstone Capital Co. (NASDAQ:GLAD) declared a monthly dividend on Tuesday, January 14th,investing.com reports. Investors of record on Wednesday, February 19th will be paid a dividend of 0.165 per share by the investment management company on Friday, February 28th. This represents a $1.98 dividend on an annualized basis and a dividend yield of 6.78%. The ex-dividend date of this dividend is Wednesday, February 19th.

Gladstone Capital has raised its dividend by an average of 8.3% annually over the last three years. Gladstone Capital has a payout ratio of 97.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Gladstone Capital to earn $2.04 per share next year, which means the company should continue to be able to cover its $1.98 annual dividend with an expected future payout ratio of 97.1%.

Gladstone Capital Stock Performance

GLAD opened at $29.22 on Monday. The firm has a market capitalization of $652.48 million, a P/E ratio of 7.69 and a beta of 1.27. Gladstone Capital has a 12-month low of $19.20 and a 12-month high of $30.43. The stock’s 50 day moving average price is $28.69 and its two-hundred day moving average price is $25.80. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.15.

Gladstone Capital (NASDAQ:GLAD) last posted its earnings results on Tuesday, February 11th. The investment management company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.03). Gladstone Capital had a return on equity of 10.48% and a net margin of 97.81%. On average, equities analysts forecast that Gladstone Capital will post 2.04 earnings per share for the current year.

Analyst Ratings Changes

Separately, B. Riley assumed coverage on Gladstone Capital in a research note on Wednesday, October 23rd. They issued a “neutral” rating and a $23.00 target price for the company.

Insider Buying and Selling

In other Gladstone Capital news, President Bob Marcotte sold 15,500 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $27.35, for a total transaction of $423,925.00. Following the transaction, the president now owns 248,210 shares in the company, valued at approximately $6,788,543.50. This trade represents a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.96% of the stock is currently owned by insiders.

Gladstone Capital Company Profile

Gladstone Capital Corporation is a business development company specializing in lower middle market, growth capital, add on acquisitions, change of control, buy & build strategies, debt refinancing, debt investments in senior term loans, revolving loans, secured first and second lien term loans, senior subordinated loans, unitranche loans, junior subordinated loans, and mezzanine loans and equity investments in the form of common stock, preferred stock, limited liability company interests, or warrants.