Gladstone Capital Co. (GLAD) To Go Ex-Dividend on March 19th

Gladstone Capital Co. (NASDAQ:GLAD) announced a monthly dividend on Thursday, January 16th,Wall Street Journal reports. Shareholders of record on Wednesday, March 19th will be paid a dividend of 0.165 per share by the investment management company on Monday, March 31st. This represents a $1.98 dividend on an annualized basis and a yield of 6.64%. The ex-dividend date of this dividend is Wednesday, March 19th.

Gladstone Capital has raised its dividend payment 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 tumble. 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 Price Performance

Shares of Gladstone Capital stock opened at $29.80 on Friday. The company has a market capitalization of $665.43 million, a price-to-earnings ratio of 7.84 and a beta of 1.27. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.15. The stock’s 50-day simple moving average is $27.63 and its 200-day simple moving average is $25.02. Gladstone Capital has a 52 week low of $19.20 and a 52 week high of $29.95.

Analysts Set New Price Targets

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

Insider Activity at Gladstone Capital

In related news, President Bob Marcotte sold 15,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $27.35, for a total value of $423,925.00. Following the completion of the sale, the president now owns 248,210 shares in the company, valued at approximately $6,788,543.50. The trade was a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.96% of the stock is owned by company insiders.

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.