Gladstone Investment Co. (NASDAQ:GAIN) Plans $0.08 Monthly Dividend

Gladstone Investment Co. (NASDAQ:GAIN) announced a monthly dividend on Wednesday, January 15th,Wall Street Journal reports. Shareholders of record on Wednesday, March 19th will be given a dividend of 0.08 per share by the investment management company on Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a yield of 7.31%. The ex-dividend date is Wednesday, March 19th.

Gladstone Investment has a payout ratio of 91.4% 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 Investment to earn $0.94 per share next year, which means the company may not be able to cover its $0.96 annual dividend with an expected future payout ratio of 102.1%.

Gladstone Investment Trading Up 1.5 %

Gladstone Investment stock opened at $13.14 on Thursday. The company has a market capitalization of $482.11 million, a P/E ratio of 12.40 and a beta of 1.30. Gladstone Investment has a 1-year low of $12.46 and a 1-year high of $14.85. The firm’s fifty day simple moving average is $13.38 and its 200-day simple moving average is $13.52.

Analysts Set New Price Targets

A number of analysts have weighed in on GAIN shares. StockNews.com raised Gladstone Investment from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. B. Riley boosted their target price on Gladstone Investment from $13.00 to $13.50 and gave the stock a “neutral” rating in a report on Monday, November 11th.

About Gladstone Investment

Gladstone Investment Corporation is business development company, specializes in lower middle market, mature stage, buyouts; refinancing existing debt; senior debt securities such as senior loans, senior term loans, lines of credit, and senior notes; senior subordinated debt securities such as senior subordinated loans and senior subordinated notes; junior subordinated debt securities such as subordinated notes and mezzanine loans; limited liability company interests, and warrants or options.