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

Gladstone Capital Co. (NASDAQ:GLAD) announced a dividend on Monday, January 20th,investing.com reports. Stockholders of record on Monday, January 27th will be paid a dividend of 0.165 per share by the investment management company on Friday, January 31st. This represents a dividend yield of 6.64%. The ex-dividend date is Friday, January 24th.

Gladstone Capital has increased its dividend by an average of 8.3% per year over the last three years. Gladstone Capital has a dividend 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 decline. 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

Shares of GLAD traded up $0.05 during mid-day trading on Monday, hitting $29.80. 83,605 shares of the company were exchanged, compared to its average volume of 111,368. The stock has a market cap of $665.43 million, a price-to-earnings ratio of 7.84 and a beta of 1.27. Gladstone Capital has a 1-year low of $19.20 and a 1-year high of $29.95. The company has a 50 day moving average of $27.63 and a 200-day moving average of $25.04. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.04 and a current ratio of 0.04.

Insider Buying and Selling at Gladstone Capital

In other news, President Bob Marcotte sold 15,500 shares of Gladstone Capital stock in a transaction 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 transaction, the president now owns 248,210 shares in the company, valued at $6,788,543.50. The trade was a 5.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.96% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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 objective on the stock.

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.