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

Gladstone Capital Co. (NASDAQ:GLAD) announced a dividend on Tuesday, January 21st,investing.com reports. Investors of record on Monday, January 27th will be given a dividend of 0.165 per share by the investment management company on Friday, January 31st. This represents a dividend yield of 6.54%. The ex-dividend date is Friday, January 24th.

Gladstone Capital has raised its dividend payment by an average of 8.3% annually over the last three years. Gladstone Capital has a dividend 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 Trading Up 1.5 %

NASDAQ GLAD traded up $0.46 during mid-day trading on Tuesday, reaching $30.26. 167,819 shares of the stock were exchanged, compared to its average volume of 119,327. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.04 and a quick ratio of 0.04. Gladstone Capital has a one year low of $19.20 and a one year high of $30.30. The stock has a 50 day simple moving average of $27.71 and a 200-day simple moving average of $25.08. The stock has a market cap of $675.71 million, a P/E ratio of 7.96 and a beta of 1.27.

Insider Transactions at Gladstone Capital

In related news, President Bob Marcotte sold 15,500 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $27.35, for a total transaction of $423,925.00. Following the sale, the president now owns 248,210 shares of the company’s stock, valued at approximately $6,788,543.50. This represents a 5.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.96% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

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.