Gladstone Capital Corporation (GLAD) to Issue Monthly Dividend of $0.15 on August 31st

Gladstone Capital Corporation (NASDAQ:GLAD) declared a monthly dividend on Tuesday, July 14th. Investors of record on Tuesday, August 18th will be given a dividend of 0.15 per share by the investment management company on Monday, August 31st. This represents a c) dividend on an annualized basis and a yield of 9.0%. The ex-dividend date of this dividend is Tuesday, August 18th.

Gladstone Capital has raised its dividend by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 4 years. Gladstone Capital has a dividend payout ratio of 89.6% 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 $1.98 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 90.9%.

Gladstone Capital Price Performance

Shares of GLAD opened at $19.93 on Thursday. Gladstone Capital has a 12 month low of $16.54 and a 12 month high of $29.50. The stock has a fifty day moving average price of $19.28 and a 200 day moving average price of $19.13. The company has a market cap of $450.22 million, a P/E ratio of 10.89 and a beta of 0.92.

Gladstone Capital (NASDAQ:GLAD) last posted its earnings results on Wednesday, May 6th. The investment management company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. Gladstone Capital had a return on equity of 9.79% and a net margin of 45.15%.The company had revenue of $25.99 million for the quarter, compared to analysts’ expectations of $25.19 million. As a group, research analysts anticipate that Gladstone Capital will post 2.01 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Weiss Ratings raised shares of Gladstone Capital from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 2nd. B. Riley Financial restated a “buy” rating on shares of Gladstone Capital in a research note on Friday, May 8th. Finally, Wall Street Zen raised Gladstone Capital from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $21.67.

About Gladstone Capital

Gladstone Capital Corporation is a publicly traded business development company (BDC) that provides debt and equity financing solutions to U.S. lower middle-market companies. Operating under an external management agreement with Gladstone Management L.P., the firm offers senior secured loans, mezzanine debt and equity investments designed to support growth initiatives, acquisitions and recapitalizations. Through its focus on privately held businesses, Gladstone Capital seeks to construct a diversified portfolio across various industry sectors.

Since its formation in 2003, Gladstone Capital has developed a track record of working closely with management teams and business owners to meet their capital needs.