Gladstone Capital Co. (GLAD) to Issue Dividend of $0.17 on January 31st

Gladstone Capital Co. (NASDAQ:GLAD) declared a dividend on Wednesday, January 22nd,investing.com reports. Shareholders 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 yield of 6.57%. The ex-dividend date is Friday, January 24th.

Gladstone Capital has increased its dividend by an average of 8.3% per year 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 tumble. Equities 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 Down 0.4 %

Shares of GLAD traded down $0.12 during mid-day trading on Wednesday, hitting $30.14. The company’s stock had a trading volume of 77,206 shares, compared to its average volume of 116,085. The company’s 50-day moving average is $27.90 and its 200-day moving average is $25.16. Gladstone Capital has a 52-week low of $19.20 and a 52-week high of $30.30. The firm has a market capitalization of $673.03 million, a price-to-earnings ratio of 7.93 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.

Insider Activity at Gladstone Capital

In other Gladstone Capital news, President Bob Marcotte sold 15,500 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $27.35, for a total value of $423,925.00. Following the completion of the transaction, the president now owns 248,210 shares of the company’s stock, valued at approximately $6,788,543.50. This trade represents a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.96% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

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.