Gladstone Capital Co. (NASDAQ:GLAD) to Issue $0.07 Monthly Dividend

Gladstone Capital Co. (NASDAQ:GLAD) declared a monthly dividend on Tuesday, October 12th, Zacks reports. Shareholders of record on Friday, October 22nd will be paid a dividend of 0.065 per share by the investment management company on Friday, October 29th. This represents a $0.78 annualized dividend and a yield of 6.88%. The ex-dividend date is Thursday, October 21st.

Gladstone Capital has decreased its dividend by 5.4% over the last three years and has increased its dividend annually for the last 2 consecutive years. Gladstone Capital has a dividend payout ratio of 98.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Gladstone Capital to earn $0.79 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 98.7%.

Shares of NASDAQ GLAD opened at $11.33 on Thursday. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.08. The firm has a fifty day simple moving average of $11.50 and a two-hundred day simple moving average of $11.25. The firm has a market capitalization of $388.66 million, a PE ratio of 5.99, a price-to-earnings-growth ratio of 4.77 and a beta of 1.46. Gladstone Capital has a 12 month low of $6.97 and a 12 month high of $12.05.

Gladstone Capital (NASDAQ:GLAD) last announced its quarterly earnings data on Tuesday, August 3rd. The investment management company reported $0.20 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.20. The company had revenue of $13.67 million for the quarter, compared to the consensus estimate of $14.18 million. Gladstone Capital had a net margin of 112.35% and a return on equity of 9.73%. On average, sell-side analysts predict that Gladstone Capital will post 0.79 earnings per share for the current year.

An institutional investor recently raised its position in Gladstone Capital stock. Morgan Stanley grew its stake in Gladstone Capital Co. (NASDAQ:GLAD) by 15.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 210,688 shares of the investment management company’s stock after purchasing an additional 27,908 shares during the period. Morgan Stanley owned about 0.61% of Gladstone Capital worth $2,408,000 at the end of the most recent quarter. Institutional investors and hedge funds own 10.47% of the company’s stock.

Several equities research analysts recently weighed in on GLAD shares. Zacks Investment Research upgraded shares of Gladstone Capital from a “sell” rating to a “hold” rating in a research report on Wednesday, October 6th. Oppenheimer started coverage on shares of Gladstone Capital in a research note on Monday, June 28th. They set a “market perform” rating and a $10.00 target price for the company.

About Gladstone Capital

Gladstone Capital is a specialty finance company that invests in debt securities consisting primarily of senior term loans, senior subordinated loans, and junior subordinated loans in small and medium sized companies, that meet certain criteria. The criteria can include some or all of the following: the potential for growth in cash flow, adequate assets for loan collateral, experienced management teams with significant ownership interest in the business, adequate capitalization, profitable operations based on the borrower’s cash flow, reasonable capitalization of the borrower and the potential to realize appreciation and gain liquidity in our equity position, if any.

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Dividend History for Gladstone Capital (NASDAQ:GLAD)

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