Gladstone Capital Corporation (NASDAQ:GLAD – Get Free Report) declared a monthly dividend on Tuesday, October 13th. Investors of record on Monday, December 21st will be paid a dividend of $0.15 per share by the investment management company on Thursday, December 31st. This represents a $1.80 dividend on an annualized basis and a yield of 9.5%. The ex-dividend date is Monday, December 21st.
Gladstone Capital has increased its dividend payment by an average of 0.1% annually 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% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research 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 Trading Down 0.3%
Gladstone Capital stock opened at $19.01 on Wednesday. The stock has a market cap of $429.44 million, a price-to-earnings ratio of 9.23 and a beta of 0.94. The company’s 50-day moving average price is $19.51 and its two-hundred day moving average price is $19.16. Gladstone Capital has a 52 week low of $16.54 and a 52 week high of $21.73.
Hedge Funds Weigh In On Gladstone Capital
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sunbelt Securities Inc. acquired a new stake in shares of Gladstone Capital in the 1st quarter valued at $142,000. Entropy Technologies LP acquired a new position in Gladstone Capital during the first quarter worth $179,000. Miller Global Investments LLC acquired a new position in Gladstone Capital during the second quarter worth $311,000. Finally, B. Riley Wealth Advisors Inc. raised its holdings in Gladstone Capital by 66.0% during the third quarter. B. Riley Wealth Advisors Inc. now owns 225,027 shares of the investment management company’s stock valued at $4,327,000 after buying an additional 89,446 shares in the last quarter. Institutional investors own 10.72% of the company’s stock.
Gladstone Capital Company Profile
Gladstone Capital Corporation is a business development company that provides financing to privately held, lower middle-market businesses in the United States. The company seeks to support established companies across a range of industries, typically working with businesses that may require flexible capital solutions to fund growth, acquisitions, recapitalizations, refinancings, or other strategic initiatives.
Its investment portfolio primarily consists of secured debt investments, including first-lien and second-lien loans, as well as subordinated debt and equity investments.
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