Gladstone Capital Co. (NASDAQ:GLAD) Announces Dividend Increase – $0.40 Per Share

Gladstone Capital Co. (NASDAQ:GLAD) announced a dividend on Tuesday, November 12th,NASDAQ Dividends reports. Shareholders of record on Wednesday, December 4th will be paid a dividend of 0.40 per share by the investment management company on Wednesday, December 18th. The ex-dividend date of this dividend is Wednesday, December 4th. This is an increase from Gladstone Capital’s previous dividend of $0.17.

Gladstone Capital has raised its dividend by an average of 6.5% annually over the last three years. Gladstone Capital has a dividend payout ratio of 96.6% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Gladstone Capital to earn $2.05 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 96.6%.

Gladstone Capital Stock Down 0.5 %

GLAD traded down $0.12 on Thursday, hitting $25.56. 238,112 shares of the company were exchanged, compared to its average volume of 127,895. The firm has a 50-day moving average price of $24.06 and a two-hundred day moving average price of $23.27. The company has a market cap of $555.93 million, a price-to-earnings ratio of 8.60 and a beta of 1.25. Gladstone Capital has a twelve month low of $19.20 and a twelve month high of $27.81. The company has a current ratio of 0.02, a quick ratio of 0.02 and a debt-to-equity ratio of 0.15.

Analyst Ratings Changes

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