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

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

Gladstone Capital has raised its dividend payment by an average of 8.3% annually over the last three years. Gladstone Capital has a payout ratio of 98.0% indicating that 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 Stock Performance

NASDAQ:GLAD traded down $0.12 during mid-day trading on Wednesday, reaching $30.14. 77,206 shares of the stock were exchanged, compared to its average volume of 116,085. The company has a 50 day simple moving average of $27.81 and a 200-day simple moving average of $25.13. The stock has a market capitalization of $673.03 million, a P/E ratio of 7.93 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. Gladstone Capital has a 1 year low of $19.20 and a 1 year high of $30.30.

Insider Activity at Gladstone Capital

In related news, President Bob Marcotte sold 15,500 shares of the business’s stock in a transaction dated 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 directly owns 248,210 shares of the company’s stock, valued at $6,788,543.50. The trade was a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.96% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, B. Riley began coverage on Gladstone Capital in a 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.