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

Gladstone Capital Co. (NASDAQ:GLAD) declared a dividend on Wednesday, January 22nd,investing.com reports. Shareholders of record on Monday, January 27th will be paid a dividend of 0.165 per share by the investment management company on Friday, January 31st. This represents a yield of 6.57%. The ex-dividend date is Friday, January 24th.

Gladstone Capital has increased its dividend by an average of 8.3% annually over the last three years. Gladstone Capital has a dividend 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 tumble. 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 Down 0.4 %

Shares of NASDAQ:GLAD traded down $0.12 during trading on Wednesday, hitting $30.14. The stock had a trading volume of 77,206 shares, compared to its average volume of 116,085. The company has a market capitalization of $673.03 million, a PE ratio of 7.93 and a beta of 1.27. 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 firm’s fifty day moving average is $27.81 and its 200 day moving average is $25.13. Gladstone Capital has a 12 month low of $19.20 and a 12 month high of $30.30.

Insiders Place Their Bets

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 shares were sold at an average price of $27.35, for a total value of $423,925.00. Following the completion of the transaction, the president now directly owns 248,210 shares in the company, valued at $6,788,543.50. This represents a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 3.96% of the company’s stock.

Wall Street Analysts Forecast Growth

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

About Gladstone Capital

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.