Gladstone Investment Co. (NASDAQ:GAIN) Declares $0.08 Monthly Dividend

Gladstone Investment Co. (NASDAQ:GAIN) announced a monthly dividend on Tuesday, July 9th, Wall Street Journal reports. Shareholders of record on Friday, September 20th will be given a dividend of 0.08 per share by the investment management company on Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a yield of 7.14%. The ex-dividend date is Friday, September 20th.

Gladstone Investment has a payout ratio of 91.4% indicating that 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 Investment to earn $0.98 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 98.0%.

Gladstone Investment Stock Performance

Shares of GAIN stock opened at $13.45 on Thursday. The stock has a market cap of $493.47 million, a PE ratio of 5.42 and a beta of 1.33. The business’s fifty day moving average is $13.30 and its 200-day moving average is $13.77. Gladstone Investment has a 1 year low of $12.14 and a 1 year high of $14.96.

Gladstone Investment (NASDAQ:GAIN) last released its earnings results on Monday, August 5th. The investment management company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). Gladstone Investment had a return on equity of 7.20% and a net margin of 78.48%. The firm had revenue of $22.18 million for the quarter, compared to analyst estimates of $24.27 million. During the same period in the previous year, the firm earned $0.25 earnings per share. Equities research analysts predict that Gladstone Investment will post 0.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, B. Riley decreased their price target on shares of Gladstone Investment from $14.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th.

About Gladstone Investment

Gladstone Investment Corporation is business development company, specializes in lower middle market, mature stage, buyouts; refinancing existing debt; senior debt securities such as senior loans, senior term loans, lines of credit, and senior notes; senior subordinated debt securities such as senior subordinated loans and senior subordinated notes; junior subordinated debt securities such as subordinated notes and mezzanine loans; limited liability company interests, and warrants or options.