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

Gladstone Capital Co. (NASDAQ:GLAD) announced a monthly dividend on Thursday, January 16th,Wall Street Journal reports. Stockholders of record on Wednesday, March 19th will be given 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 dividend yield of 6.64%. The ex-dividend date is Wednesday, March 19th.

Gladstone Capital has increased its dividend by an average of 8.3% per year over the last three years. Gladstone Capital has a 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 fall. 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

NASDAQ GLAD opened at $29.80 on Friday. The stock’s fifty day moving average price is $27.63 and its 200 day moving average price is $25.02. Gladstone Capital has a 1 year low of $19.20 and a 1 year high of $29.95. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.04 and a quick ratio of 0.04. The company has a market cap of $665.43 million, a price-to-earnings ratio of 7.84 and a beta of 1.27.

Insider Transactions at Gladstone Capital

In other Gladstone Capital news, President Bob Marcotte sold 15,500 shares of the company’s stock in a transaction that occurred 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 sale, the president now owns 248,210 shares in the company, valued at approximately $6,788,543.50. This represents a 5.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 3.96% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, B. Riley started coverage on Gladstone Capital in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $23.00 price objective 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.