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

Gladstone Capital Co. (NASDAQ:GLAD) declared a dividend on Friday, January 24th,investing.com reports. Investors of record on Monday, January 27th will be given a dividend of 0.165 per share by the investment management company on Friday, January 31st. This represents a dividend yield of 6.57%. The ex-dividend date is Friday, January 24th.

Gladstone Capital has increased its dividend by an average of 8.3% annually over the last three years. Gladstone Capital has a payout ratio of 98.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. 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 Price Performance

GLAD stock opened at $30.12 on Friday. The firm has a 50 day simple moving average of $28.07 and a two-hundred day simple moving average of $25.25. The stock has a market cap of $672.58 million, a PE ratio of 7.93 and a beta of 1.27. Gladstone Capital has a one year low of $19.20 and a one year high of $30.37. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.04 and a quick ratio of 0.04.

Insiders Place Their Bets

In other Gladstone Capital news, President Bob Marcotte sold 15,500 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $27.35, for a total transaction of $423,925.00. Following the completion of the sale, the president now directly owns 248,210 shares in the company, valued at $6,788,543.50. This represents a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 3.96% of the stock is owned by insiders.

Analysts Set New Price Targets

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 price target 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.