Gladstone Capital Co. (NASDAQ:GLAD) Announces Dividend Increase – $0.40 Per Share

Gladstone Capital Co. (NASDAQ:GLAD) announced a dividend on Tuesday, November 12th,NASDAQ Dividends reports. Shareholders of record on Wednesday, December 4th will be paid a dividend of 0.40 per share by the investment management company on Wednesday, December 18th. The ex-dividend date is Wednesday, December 4th. This is a positive change from Gladstone Capital’s previous dividend of $0.17.

Gladstone Capital has raised its dividend by an average of 6.5% annually over the last three years. Gladstone Capital has a dividend payout ratio of 97.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Gladstone Capital to earn $2.03 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 97.5%.

Gladstone Capital Stock Performance

Gladstone Capital stock opened at $27.89 on Monday. The stock has a market cap of $622.78 million, a P/E ratio of 7.34 and a beta of 1.25. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.04 and a current ratio of 0.04. Gladstone Capital has a fifty-two week low of $19.20 and a fifty-two week high of $28.09. The firm’s fifty day moving average price is $24.98 and its 200-day moving average price is $23.69.

Analyst Upgrades and Downgrades

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

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.