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

Gladstone Capital Co. (NASDAQ:GLAD) declared a monthly dividend on Tuesday, April 9th, Zacks reports. Stockholders of record on Friday, April 19th will be paid a dividend of 0.165 per share by the investment management company on Tuesday, April 30th. This represents a $1.98 annualized dividend and a dividend yield of 9.68%. The ex-dividend date is Thursday, April 18th.

Gladstone Capital has raised its dividend payment by an average of 6.5% annually over the last three years. Gladstone Capital has a dividend payout ratio of 90.8% meaning 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 $2.18 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 90.8%.

Gladstone Capital Price Performance

Shares of Gladstone Capital stock opened at $20.46 on Wednesday. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $445.01 million, a PE ratio of 7.10 and a beta of 1.25. The business’s 50-day moving average price is $20.47 and its 200-day moving average price is $20.49. Gladstone Capital has a 12 month low of $18.38 and a 12 month high of $22.56.

Gladstone Capital (NASDAQ:GLAD) last posted its quarterly earnings results on Monday, February 5th. The investment management company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.02). Gladstone Capital had a return on equity of 11.59% and a net margin of 63.05%. The company had revenue of $23.22 million for the quarter, compared to the consensus estimate of $23.39 million. Sell-side analysts forecast that Gladstone Capital will post 2.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Gladstone Capital

Several institutional investors and hedge funds have recently bought and sold shares of GLAD. Millennium Management LLC purchased a new stake in Gladstone Capital in the 2nd quarter worth approximately $3,878,000. Marshall Wace LLP purchased a new position in shares of Gladstone Capital in the 2nd quarter valued at approximately $1,681,000. Advisory Research Inc. purchased a new position in shares of Gladstone Capital in the 3rd quarter valued at approximately $421,000. Qube Research & Technologies Ltd purchased a new position in shares of Gladstone Capital in the 3rd quarter valued at approximately $459,000. Finally, LPL Financial LLC lifted its stake in shares of Gladstone Capital by 18.6% in the 2nd quarter. LPL Financial LLC now owns 295,820 shares of the investment management company’s stock valued at $2,985,000 after purchasing an additional 46,300 shares during the period. Hedge funds and other institutional investors own 10.72% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Gladstone Capital from a “sell” rating to a “hold” rating in a research report on Saturday.

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.