Gladstone Capital Corporation (NASDAQ:GLAD) Stock to Pay Monthly Dividend of $0.15

Gladstone Capital Corporation (NASDAQ:GLAD) declared a monthly dividend on Tuesday, October 13th. Stockholders of record on Friday, October 23rd will be given a dividend of $0.15 per share by the investment management company on Friday, October 30th. This represents a $1.80 annualized dividend and a dividend yield of 9.5%. The ex-dividend date is Friday, October 23rd.

Gladstone Capital has increased its dividend by an average of 0.1% per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Gladstone Capital has a 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 tumble. Research 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

GLAD opened at $19.01 on Wednesday. The firm has a fifty day moving average price of $19.51 and a 200 day moving average price of $19.16. Gladstone Capital has a 1 year low of $16.54 and a 1 year high of $21.73. The stock has a market cap of $429.44 million, a P/E ratio of 9.23 and a beta of 0.94.

Gladstone Capital (NASDAQ:GLAD) last announced its quarterly earnings results on Tuesday, August 4th. The investment management company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. Gladstone Capital had a net margin of 50.48% and a return on equity of 9.67%. The firm had revenue of $24.50 million for the quarter, compared to the consensus estimate of $24.90 million. Equities analysts expect that Gladstone Capital will post 1.99 EPS for the current year.

Institutional Trading of Gladstone Capital

Several institutional investors have recently bought and sold shares of GLAD. Miller Global Investments LLC increased its position in shares of Gladstone Capital by 200.8% in the third quarter. Miller Global Investments LLC now owns 48,139 shares of the investment management company’s stock valued at $926,000 after buying an additional 32,136 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its stake in shares of Gladstone Capital by 66.0% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 225,027 shares of the investment management company’s stock worth $4,327,000 after buying an additional 89,446 shares during the period. Sunbelt Securities Inc. purchased a new position in shares of Gladstone Capital during the 1st quarter valued at approximately $142,000. Finally, Entropy Technologies LP purchased a new position in shares of Gladstone Capital during the 1st quarter valued at approximately $179,000. 10.72% of the stock is owned by institutional investors and hedge funds.

About Gladstone Capital

Gladstone Capital Corporation is a business development company that provides financing to privately held, lower middle-market businesses in the United States. The company seeks to support established companies across a range of industries, typically working with businesses that may require flexible capital solutions to fund growth, acquisitions, recapitalizations, refinancings, or other strategic initiatives.

Its investment portfolio primarily consists of secured debt investments, including first-lien and second-lien loans, as well as subordinated debt and equity investments.