Gladstone Capital Corporation (GLAD) To Go Ex-Dividend on June 23rd

Gladstone Capital Corporation (NASDAQ:GLAD) announced a monthly dividend on Tuesday, April 14th. Shareholders of record on Tuesday, June 23rd will be paid a dividend of 0.15 per share by the investment management company on Tuesday, June 30th. This represents a c) annualized dividend and a yield of 9.4%. The ex-dividend date is Tuesday, June 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 annually for the last 4 consecutive 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. Equities 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 Price Performance

Shares of NASDAQ GLAD opened at $19.11 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.05 and a quick ratio of 0.05. The firm has a market capitalization of $431.75 million, a PE ratio of 12.02 and a beta of 0.95. Gladstone Capital has a 1-year low of $16.54 and a 1-year high of $29.50. The business’s fifty day moving average price is $18.13 and its two-hundred day moving average price is $19.62.

Gladstone Capital (NASDAQ:GLAD) last released its quarterly earnings results on Wednesday, February 4th. The investment management company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. Gladstone Capital had a net margin of 39.42% and a return on equity of 9.56%. The business had revenue of $24.51 million during the quarter, compared to analyst estimates of $24.70 million. On average, research analysts expect that Gladstone Capital will post 2.03 EPS for the current year.

Institutional Trading of Gladstone Capital

Hedge funds and other institutional investors have recently modified their holdings of the business. Atlantic Union Bankshares Corp bought a new position in Gladstone Capital during the third quarter worth $31,000. Garner Asset Management Corp acquired a new stake in Gladstone Capital in the 4th quarter worth $36,000. WFA of San Diego LLC bought a new position in shares of Gladstone Capital during the 2nd quarter worth about $42,000. JPMorgan Chase & Co. acquired a new position in shares of Gladstone Capital during the second quarter valued at about $46,000. Finally, CWM LLC lifted its stake in shares of Gladstone Capital by 89.2% in the third quarter. CWM LLC now owns 2,246 shares of the investment management company’s stock valued at $49,000 after buying an additional 1,059 shares during the period. Institutional investors and hedge funds own 10.72% of the company’s stock.

About Gladstone Capital

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.