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

Gladstone Capital Co. (NASDAQ:GLAD) announced 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 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% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. 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 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 stock has a fifty day moving average price of $27.81 and a 200-day moving average price of $25.13. 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 market cap of $675.71 million, a PE ratio of 7.96 and a beta of 1.27.

Insider Activity

In related news, President Bob Marcotte sold 15,500 shares of Gladstone Capital 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 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 3.96% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, B. Riley began coverage on Gladstone Capital in a research note on Wednesday, October 23rd. They set a “neutral” rating and a $23.00 price objective for the company.

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.