Gladstone Capital Co. (NASDAQ:GLAD) Announces Dividend Increase – $0.40 Per Share

Gladstone Capital Co. (NASDAQ:GLAD) declared a dividend on Tuesday, November 12th,NASDAQ Dividends reports. Stockholders of record on Wednesday, December 4th will be given a dividend of 0.40 per share by the investment management company on Wednesday, December 18th. The ex-dividend date is Wednesday, December 4th. This is a positive change from Gladstone Capital’s previous dividend of $0.17.

Gladstone Capital has raised its dividend payment by an average of 6.5% per year over the last three years. Gladstone Capital has a payout ratio of 96.6% 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 $2.05 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 96.6%.

Gladstone Capital Stock Performance

NASDAQ:GLAD traded down $0.12 during midday trading on Thursday, reaching $25.56. The stock had a trading volume of 238,112 shares, compared to its average volume of 127,895. The stock has a market capitalization of $555.93 million, a P/E ratio of 8.60 and a beta of 1.25. The firm’s fifty day simple moving average is $24.06 and its 200-day simple moving average is $23.27. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.02 and a quick ratio of 0.02. Gladstone Capital has a 1-year low of $19.20 and a 1-year high of $27.81.

Analyst Ratings Changes

Separately, B. Riley initiated coverage on shares of Gladstone Capital in a research 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.