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

Gladstone Capital Co. (NASDAQ:GLAD) declared a dividend on Thursday, January 23rd,investing.com reports. Shareholders 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 6.56%. The ex-dividend date 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 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 decline. 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 Trading Up 0.2 %

Shares of Gladstone Capital stock opened at $30.19 on Friday. The company’s 50-day moving average price is $27.99 and its 200-day moving average price is $25.20. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.15. Gladstone Capital has a 12-month low of $19.20 and a 12-month high of $30.37. The company has a market cap of $674.14 million, a price-to-earnings ratio of 7.94 and a beta of 1.27.

Insider Activity at Gladstone Capital

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

Analyst Upgrades and Downgrades

Separately, B. Riley began coverage on shares of Gladstone Capital in a research note on Wednesday, October 23rd. They issued 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.