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

Gladstone Capital Co. (NASDAQ:GLAD) declared a monthly dividend on Thursday, January 16th,Wall Street Journal reports. Investors of record on Wednesday, March 19th will be paid a dividend of 0.165 per share by the investment management company on Monday, March 31st. This represents a $1.98 dividend on an annualized basis and a yield of 6.80%. The ex-dividend date is Wednesday, March 19th.

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

NASDAQ GLAD opened at $29.13 on Thursday. The company has a 50-day simple moving average of $27.44 and a two-hundred day simple moving average of $24.94. Gladstone Capital has a 12-month low of $19.20 and a 12-month high of $29.48. The firm has a market cap of $650.47 million, a price-to-earnings ratio of 7.67 and a beta of 1.27. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.15.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, President Bob Marcotte sold 15,500 shares of the company’s stock in a transaction 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 sale, the president now directly owns 248,210 shares in the company, valued at $6,788,543.50. This represents a 5.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 3.96% of the company’s stock.

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.