Gladstone Investment Co. (NASDAQ:GAIN – Get Free Report) declared a monthly dividend on Wednesday, January 15th, Wall Street Journal reports. Stockholders of record on Wednesday, March 19th will be given a dividend of 0.08 per share by the investment management company on Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 7.28%. The ex-dividend date is Wednesday, March 19th.
Gladstone Investment has a payout ratio of 91.4% meaning 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 $0.94 per share next year, which means the company may not be able to cover its $0.96 annual dividend with an expected future payout ratio of 102.1%.
Gladstone Investment Price Performance
Gladstone Investment stock opened at $13.19 on Monday. The stock has a market cap of $485.88 million, a P/E ratio of 6.87 and a beta of 1.28. The firm’s 50 day moving average price is $13.40 and its 200-day moving average price is $13.48. Gladstone Investment has a 1 year low of $12.46 and a 1 year high of $14.85.
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.
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