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

Gladstone Capital Co. (NASDAQ:GLAD) announced a dividend on Friday, January 24th,investing.com reports. Stockholders 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 6.57%. The ex-dividend date is Friday, January 24th.

Gladstone Capital has raised its dividend by an average of 8.3% per year over the last three years. Gladstone Capital has a dividend 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 fall. 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 Performance

GLAD opened at $30.12 on Friday. The company’s 50 day moving average is $28.07 and its 200 day moving average is $25.24. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.15. The company has a market cap of $672.58 million, a price-to-earnings ratio of 7.93 and a beta of 1.27. Gladstone Capital has a 12-month low of $19.20 and a 12-month high of $30.37.

Analysts Set New Price Targets

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

Insider Buying and Selling at Gladstone Capital

In other Gladstone Capital news, President Bob Marcotte sold 15,500 shares of the firm’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 in the company, valued at approximately $6,788,543.50. This trade represents a 5.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.96% of the stock is currently owned by corporate insiders.

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.