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

Gladstone Capital Co. (NASDAQ:GLAD) declared a dividend on Wednesday, January 22nd,investing.com reports. Stockholders of record on Monday, January 27th will be paid a dividend of 0.165 per share by the investment management company on Friday, January 31st. This represents a dividend yield of 6.57%. The ex-dividend date is Friday, January 24th.

Gladstone Capital has raised its dividend by an average of 8.3% per year over the last three years. Gladstone Capital has a payout ratio of 98.0% indicating that 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 $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 Performance

Gladstone Capital stock traded down $0.12 during midday trading on Wednesday, reaching $30.14. 77,206 shares of the company’s stock were exchanged, compared to its average volume of 116,085. The stock’s 50-day simple moving average is $27.90 and its 200 day simple moving average is $25.16. The firm has a market cap of $673.03 million, a price-to-earnings ratio of 7.93 and a beta of 1.27. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.04 and a current ratio of 0.04. Gladstone Capital has a 52 week low of $19.20 and a 52 week high of $30.30.

Wall Street Analyst Weigh In

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

Insider Transactions at Gladstone Capital

In related news, President Bob Marcotte sold 15,500 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $27.35, for a total value of $423,925.00. Following the completion of the sale, the president now directly owns 248,210 shares in the company, valued at $6,788,543.50. The trade was a 5.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 3.96% of the stock is currently owned by corporate insiders.

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.