Gladstone Capital Co. (NASDAQ:GLAD) to Issue Dividend of $0.40

Gladstone Capital Co. (NASDAQ:GLAD) announced a dividend on Tuesday, November 12th,NASDAQ Dividends reports. Shareholders of record on Wednesday, December 4th will be paid a dividend of 0.40 per share by the investment management company on Wednesday, December 18th. The ex-dividend date is Wednesday, December 4th. This is an increase from Gladstone Capital’s previous dividend of $0.17.

Gladstone Capital has raised its dividend payment by an average of 6.5% annually over the last three years. Gladstone Capital has a payout ratio of 96.6% meaning 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 $2.05 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 96.6%.

Gladstone Capital Price Performance

Shares of NASDAQ GLAD traded down $0.12 during trading on Thursday, reaching $25.56. The company had a trading volume of 238,112 shares, compared to its average volume of 127,895. The company has a current ratio of 0.02, a quick ratio of 0.02 and a debt-to-equity ratio of 0.15. Gladstone Capital has a twelve month low of $19.20 and a twelve month high of $27.81. The stock has a 50-day moving average price of $24.12 and a two-hundred day moving average price of $23.29. The stock has a market capitalization of $555.93 million, a PE ratio of 8.52 and a beta of 1.25.

Wall Street Analyst Weigh In

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 target for the company.

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.