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

Gladstone Capital Co. (NASDAQ:GLAD) declared a dividend on Friday, January 24th,investing.com reports. Stockholders of record on Monday, January 27th will be given a dividend of 0.165 per share by the investment management company on Friday, January 31st. This represents a dividend yield of 6.57%. The ex-dividend date is Friday, January 24th.

Gladstone Capital has raised its dividend payment 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 decline. Equities 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 Trading Down 0.2 %

GLAD traded down $0.07 during trading on Friday, reaching $30.12. The company had a trading volume of 100,425 shares, compared to its average volume of 116,595. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.15. The business has a 50 day simple moving average of $27.99 and a 200-day simple moving average of $25.20. The stock has a market cap of $672.58 million, a P/E ratio of 7.93 and a beta of 1.27. Gladstone Capital has a 52 week low of $19.20 and a 52 week high of $30.37.

Wall Street Analysts Forecast Growth

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

Insider Activity at Gladstone Capital

In related news, President Bob Marcotte sold 15,500 shares of Gladstone Capital stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $27.35, for a total transaction of $423,925.00. Following the completion of the sale, 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 filing with the SEC, which is available through the SEC website. 3.96% of the stock is owned by company 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.