Gladstone Capital Co. (NASDAQ:GLAD - Get Free Report) announced a monthly dividend on Thursday, January 16th,Wall Street Journal reports. Investors of record on Wednesday, March 19th will be paid a dividend of 0.165 per share by the investment management company on Monday, March 31st. This represents a $1.98 dividend on an annualized basis and a dividend yield of 6.66%. The ex-dividend date is Wednesday, March 19th.
Gladstone Capital has raised its dividend by an average of 8.3% annually 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 tumble. Research 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 Stock Performance
Shares of NASDAQ GLAD traded up $0.62 during mid-day trading on Thursday, hitting $29.75. The company had a trading volume of 108,184 shares, compared to its average volume of 115,738. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.15. Gladstone Capital has a 1 year low of $19.20 and a 1 year high of $29.75. The company has a market capitalization of $664.25 million, a price-to-earnings ratio of 7.83 and a beta of 1.27. The stock's 50-day moving average price is $27.44 and its 200-day moving average price is $24.94.
Insider Buying and Selling
In other Gladstone Capital news, President Bob Marcotte sold 15,500 shares of the firm's stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $27.35, for a total value of $423,925.00. Following the sale, the president now owns 248,210 shares of the company's stock, valued at $6,788,543.50. This trade represents a 5.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.96% of the stock is owned by company insiders.
Analyst Ratings Changes
Separately, B. Riley started coverage on Gladstone Capital in a research report on Wednesday, October 23rd. They set a "neutral" rating and a $23.00 price target on the stock.
Check Out Our Latest Research Report on Gladstone Capital
About Gladstone Capital
(
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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.
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