Gladstone Capital Co. (NASDAQ:GLAD) Announces Dividend of $0.17

Gladstone Capital Co. (NASDAQ:GLAD) declared a dividend on Tuesday, January 21st,investing.com reports. Shareholders of record on Monday, January 27th will be paid a dividend of 0.165 per share by the investment management company on Friday, January 31st. This represents a yield of 6.54%. The ex-dividend date of this dividend is Friday, January 24th.

Gladstone Capital has raised 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% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities 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 Stock Performance

Shares of NASDAQ GLAD opened at $30.26 on Wednesday. Gladstone Capital has a 12-month low of $19.20 and a 12-month high of $30.30. The firm has a market capitalization of $675.71 million, a price-to-earnings ratio of 7.96 and a beta of 1.27. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.15. The firm has a 50 day moving average of $27.81 and a 200 day moving average of $25.13.

Insider Activity at Gladstone Capital

In other Gladstone Capital news, President Bob Marcotte sold 15,500 shares of Gladstone Capital stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $27.35, for a total value of $423,925.00. Following the sale, the president now directly owns 248,210 shares in the company, valued at approximately $6,788,543.50. The trade was a 5.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 3.96% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

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.