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

Gladstone Capital Co. (NASDAQ:GLAD) announced a dividend on Friday, January 24th,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 dividend 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% per year over the last three years. Gladstone Capital has a 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 decline. Equities 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

GLAD stock traded down $0.07 during midday trading on Friday, hitting $30.12. The company’s stock had a trading volume of 100,425 shares, compared to its average volume of 116,595. 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 12 month low of $19.20 and a 12 month high of $30.37. The company has a 50 day moving average of $27.99 and a two-hundred day moving average of $25.20. The firm has a market capitalization of $672.58 million, a price-to-earnings ratio of 7.93 and a beta of 1.27.

Analysts Set New Price Targets

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

Insider Transactions at Gladstone Capital

In other news, President Bob Marcotte sold 15,500 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $27.35, for a total transaction of $423,925.00. Following the completion of the transaction, the president now directly owns 248,210 shares in the company, valued at approximately $6,788,543.50. This represents a 5.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.96% of the company’s stock.

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.