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

Gladstone Capital Co. (NASDAQ:GLAD) declared 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 increased 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 decline. Equities 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

NASDAQ GLAD traded down $0.12 during trading hours on Wednesday, reaching $30.14. The company’s stock had a trading volume of 77,206 shares, compared to its average volume of 116,085. The firm’s 50-day moving average price is $27.81 and its 200-day moving average price is $25.13. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.15. Gladstone Capital has a 1 year low of $19.20 and a 1 year high of $30.30. The company has a market capitalization of $673.03 million, a price-to-earnings ratio of 7.93 and a beta of 1.27.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Gladstone Capital news, President Bob Marcotte sold 15,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $27.35, for a total value of $423,925.00. Following the completion of the transaction, the president now directly owns 248,210 shares of the company’s stock, valued at approximately $6,788,543.50. The trade was a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 3.96% of the company’s 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.