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

Gladstone Investment Co. (NASDAQ:GAIN) declared a monthly dividend on Tuesday, October 12th, Zacks reports. Investors of record on Friday, October 22nd will be given a dividend of 0.075 per share by the investment management company on Friday, October 29th. This represents a $0.90 annualized dividend and a yield of 6.19%. The ex-dividend date of this dividend is Thursday, October 21st. This is a positive change from Gladstone Investment’s previous monthly dividend of $0.07.

Gladstone Investment has raised its dividend by 12.5% over the last three years and has increased its dividend annually for the last 2 consecutive years. Gladstone Investment has a dividend payout ratio of 71.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Gladstone Investment to earn $0.88 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 95.5%.

GAIN opened at $14.53 on Thursday. Gladstone Investment has a 12 month low of $8.16 and a 12 month high of $15.26. The stock has a market capitalization of $482.47 million, a price-to-earnings ratio of 5.38, a PEG ratio of 5.52 and a beta of 1.55. The business has a fifty day moving average price of $14.46 and a 200 day moving average price of $14.18.

Gladstone Investment (NASDAQ:GAIN) last released its earnings results on Sunday, August 1st. The investment management company reported ($0.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.26). The company had revenue of $18.03 million for the quarter, compared to analyst estimates of $14.83 million. Gladstone Investment had a return on equity of 7.19% and a net margin of 140.05%. As a group, equities research analysts anticipate that Gladstone Investment will post 0.87 EPS for the current year.

Several institutional investors have recently bought and sold shares of GAIN. Bank of America Corp DE raised its stake in Gladstone Investment by 100.9% during the 2nd quarter. Bank of America Corp DE now owns 3,485 shares of the investment management company’s stock valued at $50,000 after acquiring an additional 1,750 shares during the last quarter. Millennium Management LLC acquired a new position in Gladstone Investment during the 2nd quarter worth approximately $146,000. Finally, Morgan Stanley increased its position in Gladstone Investment by 9.3% during the 2nd quarter. Morgan Stanley now owns 162,236 shares of the investment management company’s stock worth $2,337,000 after purchasing an additional 13,790 shares during the period. 12.23% of the stock is owned by institutional investors and hedge funds.

Separately, Zacks Investment Research downgraded Gladstone Investment from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 6th.

Gladstone Investment Company Profile

Gladstone Investment is a publicly traded business development company that seeks to make equity and secured debt investments.

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Dividend History for Gladstone Investment (NASDAQ:GAIN)

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