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

Gladstone Capital Co. (NASDAQ:GLAD) announced a dividend on Wednesday, January 22nd,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 yield of 6.57%. The ex-dividend date of this dividend is Friday, January 24th.

Gladstone Capital has raised its dividend by an average of 8.3% annually 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 tumble. 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 traded down $0.12 during midday trading on Wednesday, hitting $30.14. 77,206 shares of the company traded hands, compared to its average volume of 116,085. 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 company has a market capitalization of $673.03 million, a price-to-earnings ratio of 7.93 and a beta of 1.27. Gladstone Capital has a 52-week low of $19.20 and a 52-week high of $30.30. The business has a 50 day simple moving average of $27.90 and a two-hundred day simple moving average of $25.16.

Insider Transactions at Gladstone Capital

In other Gladstone Capital news, President Bob Marcotte sold 15,500 shares of Gladstone Capital 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 transaction, the president now directly owns 248,210 shares of the company’s stock, valued at $6,788,543.50. The trade was a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.96% of the company’s stock.

Analyst Upgrades and Downgrades

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