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

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 dividend on an annualized basis and a yield of 9.71%. The ex-dividend date is Tuesday, June 18th.

Gladstone Capital has raised its dividend payment by an average of 6.5% per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Gladstone Capital has a dividend payout ratio of 45.4% indicating that its dividend is sufficiently covered by earnings. Equities 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 $0.99 annual dividend with an expected future payout ratio of 45.4%.

Gladstone Capital Stock Performance

Shares of GLAD opened at $20.40 on Tuesday. The stock has a 50-day moving average of $20.46 and a two-hundred day moving average of $20.48. Gladstone Capital has a one year low of $18.38 and a one year high of $22.56. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.05 and a current ratio of 0.05. The stock has a market cap of $443.70 million, a P/E ratio of 7.08 and a beta of 1.25.

Gladstone Capital (NASDAQ:GLAD) last issued 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 analyst estimates of $23.39 million. Gladstone Capital had a net margin of 63.05% and a return on equity of 11.59%. As a group, research analysts predict that Gladstone Capital will post 2.2 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Gladstone Capital from a “sell” rating to a “hold” rating in a research note on Saturday.

Institutional Investors Weigh In On Gladstone Capital

Large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. purchased a new stake in shares of Gladstone Capital in the second quarter valued at approximately $36,000. Money Concepts Capital Corp acquired a new position in Gladstone Capital in the fourth quarter valued at approximately $36,000. Garner Asset Management Corp acquired a new position in Gladstone Capital in the fourth quarter valued at approximately $40,000. BNP Paribas Arbitrage SA lifted its holdings in Gladstone Capital by 230.5% in the first quarter. BNP Paribas Arbitrage SA now owns 4,300 shares of the investment management company’s stock valued at $51,000 after acquiring an additional 2,999 shares during the last quarter. Finally, BNP Paribas Arbitrage SNC acquired a new position in Gladstone Capital in the second quarter valued at approximately $78,000. 10.72% of the stock is currently owned by hedge funds and other institutional investors.

Gladstone Capital Company Profile

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.