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

Gladstone Capital Co. (NASDAQ:GLAD) announced a monthly dividend on Thursday, January 16th,Wall Street Journal reports. Shareholders 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 annualized dividend and a yield of 6.66%. The ex-dividend date of this dividend 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 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 decline. 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

Shares of Gladstone Capital stock opened at $29.75 on Friday. The business has a 50-day simple moving average of $27.54 and a 200-day simple moving average of $24.98. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.04 and a current ratio of 0.04. Gladstone Capital has a one year low of $19.20 and a one year high of $29.77. The company has a market cap of $664.32 million, a PE ratio of 7.83 and a beta of 1.27.

Analysts Set New Price Targets

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

Insider Buying and Selling at Gladstone Capital

In other news, President Bob Marcotte sold 15,500 shares of the company’s stock in a transaction dated 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 transaction, the president now directly owns 248,210 shares of the company’s stock, valued at approximately $6,788,543.50. This represents a 5.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.96% of the stock is owned by insiders.

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.