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

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

Gladstone Capital has raised its dividend by an average of 8.3% per year 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 tumble. 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 Price Performance

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

Insider Activity at Gladstone Capital

In related news, President Bob Marcotte sold 15,500 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $27.35, for a total value 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. This trade represents a 5.88 % decrease in their position. The sale 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.

Analyst Ratings Changes

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