Gladstone Capital Corporation (NASDAQ:GLAD) Announces $0.15 Monthly Dividend

Gladstone Capital Corporation (NASDAQ:GLAD) declared a monthly dividend on Tuesday, July 14th. Investors of record on Tuesday, August 18th will be paid a dividend of 0.15 per share by the investment management company on Monday, August 31st. This represents a c) annualized dividend and a yield of 9.1%. The ex-dividend date of this dividend is Tuesday, August 18th.

Gladstone Capital has raised its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Gladstone Capital has a payout ratio of 89.6% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Gladstone Capital to earn $1.98 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 90.9%.

Gladstone Capital Stock Down 0.1%

GLAD opened at $19.80 on Wednesday. The stock’s fifty day moving average is $19.27 and its two-hundred day moving average is $19.13. The company has a market capitalization of $447.28 million, a P/E ratio of 10.82 and a beta of 0.92. Gladstone Capital has a 52 week low of $16.54 and a 52 week high of $29.50.

Gladstone Capital (NASDAQ:GLAD) last issued its earnings results on Wednesday, May 6th. The investment management company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. Gladstone Capital had a return on equity of 9.79% and a net margin of 45.15%.The business had revenue of $25.99 million during the quarter, compared to analyst estimates of $25.19 million. Equities analysts anticipate that Gladstone Capital will post 2.01 earnings per share for the current year.

Institutional Trading of Gladstone Capital

Several hedge funds and other institutional investors have recently bought and sold shares of GLAD. Garner Asset Management Corp purchased a new position in shares of Gladstone Capital in the 4th quarter valued at $36,000. WFA of San Diego LLC purchased a new stake in shares of Gladstone Capital during the 2nd quarter worth $42,000. JPMorgan Chase & Co. purchased a new stake in shares of Gladstone Capital during the 2nd quarter worth $46,000. Larson Financial Group LLC boosted its position in Gladstone Capital by 380.0% during the third quarter. Larson Financial Group LLC now owns 2,400 shares of the investment management company’s stock valued at $52,000 after purchasing an additional 1,900 shares in the last quarter. Finally, Advisory Services Network LLC bought a new position in Gladstone Capital in the third quarter worth about $74,000. Institutional investors own 10.72% of the company’s stock.

Gladstone Capital Company Profile

Gladstone Capital Corporation is a publicly traded business development company (BDC) that provides debt and equity financing solutions to U.S. lower middle-market companies. Operating under an external management agreement with Gladstone Management L.P., the firm offers senior secured loans, mezzanine debt and equity investments designed to support growth initiatives, acquisitions and recapitalizations. Through its focus on privately held businesses, Gladstone Capital seeks to construct a diversified portfolio across various industry sectors.

Since its formation in 2003, Gladstone Capital has developed a track record of working closely with management teams and business owners to meet their capital needs.