Gladstone Capital Corporation Plans Monthly Dividend of $0.15 (NASDAQ:GLAD)

Gladstone Capital Corporation (NASDAQ:GLAD) announced a monthly dividend on Tuesday, July 14th. Investors of record on Friday, July 24th will be given a dividend of 0.15 per share by the investment management company on Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 9.1%. The ex-dividend date of this dividend is Friday, July 24th.

Gladstone Capital has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 4 years. Gladstone Capital has a payout ratio of 89.6% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Gladstone Capital to earn $1.98 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 90.9%.

Gladstone Capital Price Performance

NASDAQ:GLAD opened at $19.80 on Wednesday. Gladstone Capital has a 1-year low of $16.54 and a 1-year high of $29.50. The company has a 50-day moving average of $19.27 and a 200 day moving average of $19.13. The firm has a market cap of $447.28 million, a PE ratio of 10.82 and a beta of 0.92.

Gladstone Capital (NASDAQ:GLAD) last posted its earnings results on Wednesday, May 6th. The investment management company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. Gladstone Capital had a net margin of 45.15% and a return on equity of 9.79%. The business had revenue of $25.99 million for the quarter, compared to the consensus estimate of $25.19 million. Sell-side analysts anticipate that Gladstone Capital will post 2.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Gladstone Capital

A number of large investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its holdings in shares of Gladstone Capital by 1.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 28,853 shares of the investment management company’s stock valued at $792,000 after buying an additional 456 shares in the last quarter. Focus Partners Wealth bought a new position in shares of Gladstone Capital during the 1st quarter worth approximately $220,000. Cetera Investment Advisers lifted its position in Gladstone Capital by 43.0% during the second quarter. Cetera Investment Advisers now owns 21,217 shares of the investment management company’s stock valued at $572,000 after acquiring an additional 6,385 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in Gladstone Capital in the second quarter valued at approximately $46,000. Finally, Quantbot Technologies LP grew its holdings in Gladstone Capital by 52.7% in the second quarter. Quantbot Technologies LP now owns 4,272 shares of the investment management company’s stock worth $115,000 after purchasing an additional 1,474 shares during the last quarter. 10.72% of the stock is currently owned by institutional investors.

About Gladstone Capital

Gladstone Capital Corporation is a publicly traded business development company (BDC) that provides debt and equity financing solutions to U.S. lower middle-market companies. Operating under an external management agreement with Gladstone Management L.P., the firm offers senior secured loans, mezzanine debt and equity investments designed to support growth initiatives, acquisitions and recapitalizations. Through its focus on privately held businesses, Gladstone Capital seeks to construct a diversified portfolio across various industry sectors.

Since its formation in 2003, Gladstone Capital has developed a track record of working closely with management teams and business owners to meet their capital needs.