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

Gladstone Capital Co. (NASDAQ:GLAD) announced a monthly dividend on Tuesday, October 8th,Wall Street Journal reports. Shareholders of record on Friday, December 20th will be paid a dividend of 0.165 per share by the investment management company on Tuesday, December 31st. This represents a $1.98 dividend on an annualized basis and a yield of 7.11%. The ex-dividend date is Friday, December 20th.

Gladstone Capital has increased its dividend by an average of 6.5% annually over the last three years. Gladstone Capital has a dividend payout ratio of 97.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. 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 Up 1.5 %

Shares of GLAD opened at $27.86 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.04 and a current ratio of 0.04. The company has a 50-day simple moving average of $25.75 and a 200-day simple moving average of $24.10. Gladstone Capital has a 52 week low of $19.20 and a 52 week high of $28.11. The firm has a market capitalization of $622.11 million, a P/E ratio of 7.33 and a beta of 1.28.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, President Bob Marcotte sold 15,500 shares of the stock in a transaction dated Wednesday, December 11th. The shares were 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 owns 248,210 shares of the company’s stock, valued at $6,788,543.50. This represents a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 4.08% of the company’s stock.

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.