Gladstone Capital Co. (GLAD) To Go Ex-Dividend on December 20th

Gladstone Capital Co. (NASDAQ:GLAD) declared a monthly dividend on Tuesday, October 8th,Wall Street Journal reports. Shareholders of record on Friday, December 20th will be paid a dividend of 0.165 per share by the investment management company on Tuesday, December 31st. This represents a $1.98 dividend on an annualized basis and a yield of 7.11%. The ex-dividend date is Friday, December 20th.

Gladstone Capital has increased its dividend by an average of 6.5% per year over the last three years. Gladstone Capital has a dividend payout ratio of 97.1% meaning 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 $2.04 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 Up 1.5 %

Shares of Gladstone Capital stock opened at $27.86 on Wednesday. The firm has a market cap of $622.11 million, a price-to-earnings ratio of 7.33 and a beta of 1.28. The stock has a 50-day simple moving average of $25.75 and a 200-day simple moving average of $24.10. Gladstone Capital has a 52-week low of $19.20 and a 52-week high of $28.11. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.04 and a quick ratio of 0.04.

Insiders Place Their Bets

In other Gladstone Capital news, President Bob Marcotte sold 15,500 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the president now owns 248,210 shares of the company’s stock, valued at $6,788,543.50. This represents a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.08% of the company’s stock.

Analyst Ratings Changes

Separately, B. Riley assumed coverage on shares of Gladstone Capital in a research note on Wednesday, October 23rd. They issued a “neutral” rating and a $23.00 target price 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.