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

Gladstone Capital Co. (NASDAQ:GLAD) announced a monthly dividend on Wednesday, January 15th,Wall Street Journal reports. Investors 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 yield of 6.80%. The ex-dividend date is Wednesday, March 19th.

Gladstone Capital has increased its dividend payment by an average of 8.3% per year over the last three years. Gladstone Capital has a dividend 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 tumble. 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 Up 2.1 %

Gladstone Capital stock opened at $29.13 on Thursday. The firm has a market cap of $650.47 million, a PE ratio of 7.67 and a beta of 1.27. Gladstone Capital has a 12 month low of $19.20 and a 12 month high of $29.48. The stock’s 50 day simple moving average is $27.44 and its two-hundred day simple moving average is $24.94. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.15.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, President Bob Marcotte sold 15,500 shares of the business’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 completion of the sale, the president now directly owns 248,210 shares in the company, valued at $6,788,543.50. The trade was a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.96% of the stock is currently owned by insiders.

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.