Gladstone Capital Corporation (NASDAQ:GLAD) Declares Special Dividend of $0.18

Gladstone Capital Corporation (NASDAQ:GLAD) declared a special dividend on Monday, August 31st. Shareholders of record on Thursday, September 10th will be paid a dividend of 0.18 per share by the investment management company on Wednesday, September 16th. The ex-dividend date of this dividend is Thursday, September 10th.

Gladstone Capital has increased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Gladstone Capital has a payout ratio of 89.6% 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 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 Trading Up 1.3%

Gladstone Capital stock opened at $20.15 on Tuesday. The company has a market capitalization of $455.19 million, a PE ratio of 9.78 and a beta of 0.92. Gladstone Capital has a 12 month low of $16.54 and a 12 month high of $26.60. The stock has a 50-day moving average price of $19.47 and a two-hundred day moving average price of $18.89.

Gladstone Capital (NASDAQ:GLAD) last announced its quarterly earnings results on Tuesday, August 4th. The investment management company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. Gladstone Capital had a return on equity of 9.67% and a net margin of 50.48%.The firm had revenue of $24.50 million for the quarter, compared to analyst estimates of $24.90 million. As a group, analysts predict that Gladstone Capital will post 1.99 earnings per share for the current fiscal year.

Institutional Trading of Gladstone Capital

Institutional investors have recently bought and sold shares of the company. Garner Asset Management Corp acquired a new stake in Gladstone Capital during the 4th quarter worth about $36,000. WFA of San Diego LLC acquired a new position in shares of Gladstone Capital in the 2nd quarter valued at about $42,000. JPMorgan Chase & Co. bought a new stake in shares of Gladstone Capital during the 2nd quarter valued at about $46,000. Larson Financial Group LLC boosted its position in shares of Gladstone Capital by 380.0% during the 3rd quarter. Larson Financial Group LLC now owns 2,400 shares of the investment management company’s stock valued at $52,000 after purchasing an additional 1,900 shares in the last quarter. Finally, Advisory Services Network LLC bought a new stake in shares of Gladstone Capital during the 3rd quarter valued at about $74,000. Institutional investors own 10.72% of the company’s stock.

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.