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

Gladstone Capital Co. (NASDAQ:GLAD) announced a monthly dividend on Tuesday, April 9th, Zacks reports. Investors of record on Friday, April 19th will be given a dividend of 0.165 per share by the investment management company on Tuesday, April 30th. This represents a $1.98 dividend on an annualized basis and a dividend yield of 9.68%. The ex-dividend date is Thursday, April 18th.

Gladstone Capital has increased its dividend payment by an average of 6.5% annually over the last three years. Gladstone Capital has a dividend payout ratio of 90.8% 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 $2.18 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 90.8%.

Gladstone Capital Stock Performance

Shares of NASDAQ GLAD opened at $20.46 on Wednesday. The stock has a market capitalization of $445.01 million, a PE ratio of 7.10 and a beta of 1.25. Gladstone Capital has a 52 week low of $18.38 and a 52 week high of $22.56. The stock has a 50 day moving average price of $20.47 and a 200 day moving average price of $20.49. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.05 and a current ratio of 0.05.

Gladstone Capital (NASDAQ:GLAD) last released its quarterly earnings data on Monday, February 5th. The investment management company reported $0.54 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%. Analysts predict that Gladstone Capital will post 2.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gladstone Capital

Hedge funds have recently added to or reduced their stakes in the business. Money Concepts Capital Corp acquired a new stake in Gladstone Capital during the 4th quarter valued at $36,000. JPMorgan Chase & Co. acquired a new stake in Gladstone Capital during the 2nd quarter valued at $36,000. Garner Asset Management Corp bought a new position in Gladstone Capital during the 4th quarter worth $40,000. BNP Paribas Arbitrage SA increased its position in Gladstone Capital by 230.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,300 shares of the investment management company’s stock worth $51,000 after buying an additional 2,999 shares during the period. Finally, BNP Paribas Arbitrage SNC bought a new position in Gladstone Capital during the 2nd quarter worth $78,000. Institutional investors and hedge funds own 10.72% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com raised Gladstone Capital from a “sell” rating to a “hold” rating in a report on Saturday.

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.