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

Gladstone Capital Corporation (NASDAQ:GLAD) announced a monthly dividend on Tuesday, January 13th. Shareholders of record on Monday, March 23rd will be paid a dividend of 0.15 per share by the investment management company on Tuesday, March 31st. This represents a c) annualized dividend and a dividend yield of 8.6%. The ex-dividend date of this dividend is Monday, March 23rd.

Gladstone Capital has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 4 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 decline. Analysts expect Gladstone Capital to earn $2.03 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 88.7%.

Gladstone Capital Trading Up 1.0%

Shares of GLAD stock traded up $0.21 during trading hours on Wednesday, hitting $20.93. The company’s stock had a trading volume of 46,866 shares, compared to its average volume of 152,808. The business has a fifty day moving average of $20.51 and a 200-day moving average of $23.15. Gladstone Capital has a twelve month low of $18.76 and a twelve month high of $30.43. The stock has a market cap of $472.87 million, a price-to-earnings ratio of 8.18 and a beta of 0.93.

Gladstone Capital (NASDAQ:GLAD) last posted its earnings results on Monday, November 17th. The investment management company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. The firm had revenue of $23.94 million for the quarter, compared to analyst estimates of $22.72 million. Gladstone Capital had a return on equity of 9.48% and a net margin of 64.36%. On average, equities analysts expect that Gladstone Capital will post 2.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on GLAD shares. Wall Street Zen upgraded Gladstone Capital from a “sell” rating to a “hold” rating in a research report on Saturday, December 20th. Zacks Research raised shares of Gladstone Capital from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. B. Riley raised Gladstone Capital from a “neutral” rating to a “buy” rating and cut their target price for the stock from $27.00 to $22.00 in a research report on Wednesday, November 19th. Oppenheimer upgraded shares of Gladstone Capital from a “market perform” rating to an “outperform” rating and reduced their target price for the company from $26.00 to $22.00 in a report on Wednesday, November 19th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Gladstone Capital in a research report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $22.00.

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.