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

Gladstone Capital Co. (NASDAQ:GLAD) announced a monthly dividend on Wednesday, January 15th,Wall Street Journal reports. Investors of record on Wednesday, March 19th will be given a dividend of 0.165 per share by the investment management company on Monday, March 31st. This represents a $1.98 annualized dividend and a dividend yield of 6.80%. The ex-dividend date of this dividend is Wednesday, March 19th.

Gladstone Capital has raised its dividend payment by an average of 8.3% annually over the last three years. Gladstone Capital has a dividend payout ratio of 98.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. 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 Trading Up 2.0 %

Gladstone Capital stock traded up $0.58 during midday trading on Wednesday, reaching $29.11. 100,846 shares of the stock traded hands, compared to its average volume of 114,608. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.15. The firm has a market cap of $650.03 million, a PE ratio of 7.66 and a beta of 1.27. The company has a 50-day simple moving average of $27.35 and a two-hundred day simple moving average of $24.91. Gladstone Capital has a 12-month low of $19.20 and a 12-month high of $29.48.

Insider Buying and Selling

In other Gladstone Capital news, President Bob Marcotte sold 15,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $27.35, for a total transaction of $423,925.00. Following the completion of the transaction, the president now owns 248,210 shares in the company, valued at $6,788,543.50. The trade was a 5.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.96% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, B. Riley began coverage on shares of Gladstone Capital in a report on Wednesday, October 23rd. They set a “neutral” rating and a $23.00 target price on the stock.

About Gladstone Capital

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.