Gladstone Capital Co. (NASDAQ:GLAD) announced a monthly dividend on Friday, October 16th, Wall Street Journal reports. Stockholders of record on Wednesday, December 23rd will be paid a dividend of 0.065 per share by the investment management company on Thursday, December 31st. This represents a $0.78 dividend on an annualized basis and a dividend yield of 10.13%. The ex-dividend date is Tuesday, December 22nd.
Gladstone Capital has a payout ratio of 95.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Gladstone Capital to earn $0.80 per share next year, which means the company should continue to be able to cover its $0.78 annual dividend with an expected future payout ratio of 97.5%.
GLAD opened at $7.70 on Friday. The stock’s 50-day moving average price is $7.54 and its 200 day moving average price is $7.05. Gladstone Capital has a 12-month low of $4.04 and a 12-month high of $10.69. The firm has a market cap of $240.19 million, a price-to-earnings ratio of -36.67 and a beta of 1.50. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.59.
Separately, Zacks Investment Research upgraded Gladstone Capital from a “sell” rating to a “hold” rating in a report on Wednesday, September 30th.
About Gladstone Capital
Gladstone Capital Corporation is a private equity and a venture capital fund specializing in lower middle market, growth capital, add on acquisitions, debt investments in senior loans, second lien loans, senior subordinated loans, junior subordinated loans, and mezzanine loans and equity investments in the form of common stock, preferred stock, limited liability company interests, or warrants.
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