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

Gladstone Capital Co. (NASDAQ:GLAD) announced a monthly dividend on Thursday, January 16th,Wall Street Journal reports. Stockholders of record on Wednesday, March 19th will be paid a dividend of 0.165 per share by the investment management company on Monday, March 31st. This represents a $1.98 dividend on an annualized basis and a dividend yield of 6.80%. The ex-dividend date is Wednesday, March 19th.

Gladstone Capital has raised its dividend payment by an average of 8.3% annually over the last three years. Gladstone Capital has a payout ratio of 98.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. 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 2.1 %

GLAD stock opened at $29.13 on Thursday. The company’s 50 day moving average is $27.44 and its 200 day moving average is $24.94. The stock has a market cap of $650.47 million, a price-to-earnings ratio of 7.67 and a beta of 1.27. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.15. Gladstone Capital has a 1-year low of $19.20 and a 1-year high of $29.48.

Insider Buying and Selling at Gladstone Capital

In other news, President Bob Marcotte sold 15,500 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $27.35, for a total transaction of $423,925.00. Following the transaction, the president now directly owns 248,210 shares in the company, valued at approximately $6,788,543.50. This represents a 5.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.96% of the company’s stock.

Wall Street Analysts Forecast Growth

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

About Gladstone Capital

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.