Gladstone Capital Co. (GLAD) to Issue Monthly Dividend of $0.17 on June 28th

Gladstone Capital Co. (NASDAQ:GLAD) announced a monthly dividend on Monday, April 15th, Wall Street Journal reports. Shareholders of record on Wednesday, June 19th will be paid a dividend of 0.165 per share by the investment management company on Friday, June 28th. This represents a $1.98 annualized dividend and a dividend yield of 9.68%. The ex-dividend date is Tuesday, June 18th.

Gladstone Capital has raised its dividend by an average of 6.5% annually over the last three years. Gladstone Capital has a payout ratio of 90.8% 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 Capital to earn $2.18 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 90.8%.

Gladstone Capital Trading Up 0.3 %

Gladstone Capital stock opened at $20.46 on Wednesday. The firm has a 50 day simple moving average of $20.47 and a 200-day simple moving average of $20.49. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.05 and a quick ratio of 0.05. The stock has a market capitalization of $445.01 million, a PE ratio of 7.10 and a beta of 1.25. Gladstone Capital has a 12-month low of $18.38 and a 12-month high of $22.56.

Gladstone Capital (NASDAQ:GLAD) last posted its quarterly earnings data on Monday, February 5th. The investment management company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.02). The company had revenue of $23.22 million during the quarter, compared to the consensus estimate of $23.39 million. Gladstone Capital had a net margin of 63.05% and a return on equity of 11.59%. As a group, equities research analysts expect that Gladstone Capital will post 2.2 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Gladstone Capital from a “sell” rating to a “hold” rating in a report on Saturday.

Institutional Trading of Gladstone Capital

Large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. acquired a new position in Gladstone Capital in the 2nd quarter worth approximately $36,000. Money Concepts Capital Corp acquired a new position in Gladstone Capital in the 4th quarter worth approximately $36,000. Garner Asset Management Corp acquired a new position in Gladstone Capital in the 4th quarter worth approximately $40,000. BNP Paribas Arbitrage SA boosted its stake in Gladstone Capital by 230.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,300 shares of the investment management company’s stock worth $51,000 after purchasing an additional 2,999 shares during the period. Finally, BNP Paribas Arbitrage SNC acquired a new position in Gladstone Capital in the 2nd quarter worth approximately $78,000. 10.72% of the stock is currently owned by institutional investors.

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.