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

Gladstone Capital Co. (NASDAQ:GLAD) announced a monthly dividend on Tuesday, July 9th, Wall Street Journal reports. Stockholders of record on Wednesday, August 21st will be paid a dividend of 0.165 per share by the investment management company on Friday, August 30th. This represents a $1.98 dividend on an annualized basis and a dividend yield of 8.52%. The ex-dividend date of this dividend is Wednesday, August 21st.

Gladstone Capital has raised its dividend by an average of 6.5% annually over the last three years. Gladstone Capital has a dividend payout ratio of 93.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect Gladstone Capital to earn $2.11 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 93.8%.

Gladstone Capital Stock Performance

NASDAQ:GLAD opened at $23.23 on Tuesday. The company has a market cap of $505.35 million, a P/E ratio of 8.40 and a beta of 1.26. Gladstone Capital has a twelve month low of $18.40 and a twelve month high of $24.73. The business has a 50 day moving average price of $23.30 and a two-hundred day moving average price of $21.86. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.27.

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 Thursday, May 9th.

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.