Gladstone Capital Co. (GLAD) to Issue Monthly Dividend of $0.17 on February 28th

Gladstone Capital Co. (NASDAQ:GLAD) announced a monthly dividend on Tuesday, January 14th,NASDAQ Dividends reports. Shareholders of record on Wednesday, February 19th will be paid a dividend of 0.165 per share by the investment management company on Friday, February 28th. This represents a $1.98 dividend on an annualized basis and a yield of 6.78%. The ex-dividend date of this dividend is Wednesday, February 19th.

Gladstone Capital has raised its dividend by an average of 8.3% annually over the last three years. Gladstone Capital has a payout ratio of 97.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. 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 2.9 %

NASDAQ GLAD opened at $29.22 on Monday. 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 has a market cap of $652.48 million, a PE ratio of 7.69 and a beta of 1.27. The company has a 50 day moving average price of $28.69 and a 200 day moving average price of $25.80. Gladstone Capital has a 52 week low of $19.20 and a 52 week high of $30.43.

Gladstone Capital (NASDAQ:GLAD) last announced its quarterly earnings results on Tuesday, February 11th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.03). Gladstone Capital had a return on equity of 10.48% and a net margin of 97.81%. As a group, sell-side analysts forecast that Gladstone Capital will post 2.04 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, President Bob Marcotte sold 15,500 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $27.35, for a total transaction of $423,925.00. Following the transaction, the president now owns 248,210 shares of the company’s stock, valued at $6,788,543.50. This trade represents a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 3.96% of the company’s stock.

Analysts Set New Price Targets

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

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.