Gladstone Investment Co. (GAIN) to Issue Monthly Dividend of $0.08 on April 30th

Gladstone Investment Co. (NASDAQ:GAIN) declared a monthly dividend on Tuesday, April 9th, Zacks reports. Shareholders of record on Friday, April 19th will be paid a dividend of 0.08 per share by the investment management company on Tuesday, April 30th. This represents a $0.96 dividend on an annualized basis and a yield of 6.92%. The ex-dividend date is Thursday, April 18th.

Gladstone Investment has increased its dividend payment by an average of 4.6% annually over the last three years. Gladstone Investment has a payout ratio of 86.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Gladstone Investment to earn $1.05 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 91.4%.

Gladstone Investment Stock Down 0.4 %

Shares of GAIN opened at $13.87 on Tuesday. Gladstone Investment has a 12-month low of $12.14 and a 12-month high of $14.96. The business has a 50-day simple moving average of $13.98 and a two-hundred day simple moving average of $14.00. The stock has a market cap of $508.89 million, a PE ratio of 6.97 and a beta of 1.36.

Gladstone Investment (NASDAQ:GAIN) last released its quarterly earnings results on Tuesday, February 6th. The investment management company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.01). Gladstone Investment had a net margin of 80.68% and a return on equity of 7.79%. The company had revenue of $23.08 million during the quarter, compared to the consensus estimate of $24.04 million. On average, equities research analysts expect that Gladstone Investment will post 1.01 EPS for the current year.

Institutional Investors Weigh In On Gladstone Investment

A number of institutional investors have recently made changes to their positions in GAIN. Bank of America Corp DE grew its position in shares of Gladstone Investment by 103.7% in the 1st quarter. Bank of America Corp DE now owns 2,037 shares of the investment management company’s stock valued at $27,000 after buying an additional 1,037 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in Gladstone Investment during the first quarter worth approximately $30,000. JPMorgan Chase & Co. acquired a new stake in Gladstone Investment during the second quarter worth approximately $49,000. BNP Paribas Financial Markets acquired a new stake in Gladstone Investment during the fourth quarter worth approximately $49,000. Finally, Tower Research Capital LLC TRC grew its stake in Gladstone Investment by 217.9% during the first quarter. Tower Research Capital LLC TRC now owns 5,766 shares of the investment management company’s stock worth $76,000 after purchasing an additional 3,952 shares during the period. Institutional investors own 11.85% of the company’s stock.

About Gladstone Investment

Gladstone Investment Corporation is business development company, specializes in lower middle market, mature stage, buyouts; refinancing existing debt; senior debt securities such as senior loans, senior term loans, lines of credit, and senior notes; senior subordinated debt securities such as senior subordinated loans and senior subordinated notes; junior subordinated debt securities such as subordinated notes and mezzanine loans; limited liability company interests, and warrants or options.