Gladstone Investment Co. (GAIN) To Go Ex-Dividend on September 20th

Gladstone Investment Co. (NASDAQ:GAIN) announced a monthly dividend on Tuesday, July 9th, Wall Street Journal reports. Shareholders of record on Friday, September 20th will be paid a dividend of 0.08 per share by the investment management company on Monday, September 30th. This represents a $0.96 annualized dividend and a yield of 7.38%. The ex-dividend date of this dividend is Friday, September 20th.

Gladstone Investment has a dividend payout ratio of 91.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Gladstone Investment to earn $0.98 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 98.0%.

Gladstone Investment Price Performance

Shares of Gladstone Investment stock opened at $13.00 on Wednesday. Gladstone Investment has a 1 year low of $12.14 and a 1 year high of $14.96. The stock has a market cap of $476.96 million, a PE ratio of 5.24 and a beta of 1.33. The firm has a fifty day moving average price of $13.31 and a 200 day moving average price of $13.77.

Gladstone Investment (NASDAQ:GAIN) last issued its earnings results on Monday, August 5th. The investment management company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). The company had revenue of $22.18 million during the quarter, compared to analysts’ expectations of $24.27 million. Gladstone Investment had a return on equity of 7.20% and a net margin of 78.48%. During the same quarter in the previous year, the company earned $0.25 EPS. As a group, equities analysts expect that Gladstone Investment will post 0.99 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, B. Riley dropped their price objective on shares of Gladstone Investment from $14.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th.

About Gladstone Investment

Gladstone Investment Corporation is business development company, specializes in lower middle market, mature stage, buyouts; refinancing existing debt; senior debt securities such as senior loans, senior term loans, lines of credit, and senior notes; senior subordinated debt securities such as senior subordinated loans and senior subordinated notes; junior subordinated debt securities such as subordinated notes and mezzanine loans; limited liability company interests, and warrants or options.