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

Gladstone Capital Co. (NASDAQ:GLAD) declared a monthly dividend on Wednesday, April 9th, Wall Street Journal reports. Stockholders of record on Friday, June 20th will be given a dividend of 0.165 per share by the investment management company on Monday, June 30th. This represents a $1.98 annualized dividend and a dividend yield of 7.99%. The ex-dividend date is Friday, June 20th.

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% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Gladstone Capital to earn $2.03 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 97.5%.

Gladstone Capital Stock Performance

NASDAQ:GLAD traded up $1.65 during trading hours on Wednesday, hitting $24.77. 294,547 shares of the company were exchanged, compared to its average volume of 119,643. The company’s 50 day moving average price is $27.75 and its 200-day moving average price is $26.99. The stock has a market capitalization of $553.11 million, a price-to-earnings ratio of 6.06 and a beta of 1.05. Gladstone Capital has a 52-week low of $20.01 and a 52-week high of $30.43. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.04 and a quick ratio of 0.04.

Gladstone Capital (NASDAQ:GLAD) last released its quarterly earnings data on Tuesday, February 11th. The investment management company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.03). Gladstone Capital had a return on equity of 10.00% and a net margin of 106.59%. As a group, research analysts forecast that Gladstone Capital will post 2.03 earnings per share for the current year.

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.