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

Gladstone Capital Co. (NASDAQ:GLAD) announced a monthly dividend on Wednesday, January 15th,Wall Street Journal reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 6.80%. The ex-dividend date of this dividend is Wednesday, March 19th.

Gladstone Capital has increased its dividend payment by an average of 8.3% per year 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 tumble. Equities 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

NASDAQ:GLAD traded up $0.58 during mid-day trading on Wednesday, reaching $29.11. 100,846 shares of the stock were exchanged, compared to its average volume of 114,608. The stock has a market capitalization of $650.03 million, a P/E ratio of 7.66 and a beta of 1.27. Gladstone Capital has a 1 year low of $19.20 and a 1 year high of $29.48. The company has a 50 day simple moving average of $27.35 and a 200-day simple moving average of $24.91. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.15.

Analyst Ratings Changes

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

Insider Buying and Selling

In other Gladstone Capital news, President Bob Marcotte sold 15,500 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was 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 of the company’s stock, valued at $6,788,543.50. This represents a 5.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.96% of the company’s 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.