Gladstone Investment Co. (NASDAQ:GAIN) to Issue $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 Wednesday, August 21st will be given a dividend of 0.08 per share by the investment management company on Friday, August 30th. This represents a $0.96 dividend on an annualized basis and a yield of 7.18%. The ex-dividend date of this dividend is Wednesday, August 21st.

Gladstone Investment has a dividend payout ratio of 91.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Gladstone Investment to earn $1.05 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 91.4%.

Gladstone Investment Stock Performance

GAIN stock opened at $13.37 on Tuesday. The company has a market capitalization of $490.53 million, a P/E ratio of 5.39 and a beta of 1.32. The company has a fifty day moving average price of $13.79 and a 200-day moving average price of $13.95. Gladstone Investment has a 52-week low of $12.14 and a 52-week high of $14.96.

Gladstone Investment (NASDAQ:GAIN) last announced its earnings results on Monday, August 5th. The investment management company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.01). Gladstone Investment had a return on equity of 7.33% and a net margin of 97.71%. The company had revenue of $22.18 million for the quarter, compared to the consensus estimate of $24.27 million. During the same period in the prior year, the business earned $0.25 earnings per share. As a group, sell-side analysts forecast that Gladstone Investment will post 1.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. LADENBURG THALM/SH SH reaffirmed a “neutral” rating and issued a $14.00 price objective on shares of Gladstone Investment in a research note on Thursday, May 9th. B. Riley dropped 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.

Gladstone Investment Company Profile

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.