Gladstone Capital Corporation (NASDAQ:GLAD) Shareholders to Receive $0.15 Monthly Dividend

Gladstone Capital Corporation (NASDAQ:GLAD) declared a monthly dividend on Tuesday, October 13th. Stockholders of record on Friday, October 23rd will be paid a dividend of $0.15 per share by the investment management company on Friday, October 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 9.5%. The ex-dividend date of this dividend is Friday, October 23rd.

Gladstone Capital has increased its dividend by an average of 0.1% annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Gladstone Capital has a dividend payout ratio of 89.6% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Gladstone Capital to earn $1.98 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 90.9%.

Gladstone Capital Price Performance

Shares of NASDAQ GLAD opened at $19.01 on Wednesday. The stock has a market capitalization of $429.44 million, a PE ratio of 9.23 and a beta of 0.94. Gladstone Capital has a one year low of $16.54 and a one year high of $21.73. The business’s fifty day moving average price is $19.51 and its 200-day moving average price is $19.16.

Gladstone Capital (NASDAQ:GLAD) last announced its quarterly earnings data on Tuesday, August 4th. The investment management company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.01. The company had revenue of $24.50 million during the quarter, compared to analyst estimates of $24.90 million. Gladstone Capital had a return on equity of 9.67% and a net margin of 50.48%. As a group, equities analysts expect that Gladstone Capital will post 1.99 EPS for the current fiscal year.

Hedge Funds Weigh In On Gladstone Capital

Large investors have recently modified their holdings of the company. B. Riley Wealth Advisors Inc. boosted its holdings in Gladstone Capital by 66.0% in the third quarter. B. Riley Wealth Advisors Inc. now owns 225,027 shares of the investment management company’s stock worth $4,327,000 after acquiring an additional 89,446 shares in the last quarter. Miller Global Investments LLC grew its stake in shares of Gladstone Capital by 200.8% in the third quarter. Miller Global Investments LLC now owns 48,139 shares of the investment management company’s stock worth $926,000 after acquiring an additional 32,136 shares during the last quarter. Sunbelt Securities Inc. bought a new position in shares of Gladstone Capital during the first quarter valued at $142,000. Finally, Entropy Technologies LP bought a new position in shares of Gladstone Capital during the first quarter valued at $179,000. 10.72% of the stock is owned by hedge funds and other institutional investors.

About Gladstone Capital

Gladstone Capital Corporation is a business development company that provides financing to privately held, lower middle-market businesses in the United States. The company seeks to support established companies across a range of industries, typically working with businesses that may require flexible capital solutions to fund growth, acquisitions, recapitalizations, refinancings, or other strategic initiatives.

Its investment portfolio primarily consists of secured debt investments, including first-lien and second-lien loans, as well as subordinated debt and equity investments.