Gladstone Investment Co. Declares Dividend of $0.70 (NASDAQ:GAIN)

Gladstone Investment Co. (NASDAQ:GAIN) announced a dividend on Tuesday, September 17th, NASDAQ reports. Investors of record on Friday, October 4th will be given a dividend of 0.70 per share by the investment management company on Monday, October 14th. The ex-dividend date is Friday, October 4th.

Gladstone Investment has a dividend payout ratio of 91.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Gladstone Investment to earn $0.98 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 98.0%.

Gladstone Investment Stock Performance

Shares of NASDAQ:GAIN traded up $0.18 during trading hours on Thursday, hitting $13.63. The stock had a trading volume of 202,901 shares, compared to its average volume of 141,510. The stock’s fifty day simple moving average is $13.30 and its 200 day simple moving average is $13.77. Gladstone Investment has a 1-year low of $12.14 and a 1-year high of $14.96. The firm has a market capitalization of $500.07 million, a price-to-earnings ratio of 5.50 and a beta of 1.33.

Gladstone Investment (NASDAQ:GAIN) last announced its quarterly earnings results on Monday, August 5th. The investment management company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.01). Gladstone Investment had a net margin of 78.48% and a return on equity of 7.20%. The firm had revenue of $22.18 million during the quarter, compared to analyst estimates of $24.27 million. During the same quarter in the previous year, the business posted $0.25 EPS. As a group, research analysts anticipate that Gladstone Investment will post 0.99 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, B. Riley lowered their price objective on shares of Gladstone Investment from $14.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th.

Gladstone Investment Company Profile

Gladstone Investment Corporation is business development company, specializes in lower middle market, mature stage, buyouts; refinancing existing debt; senior debt securities such as senior loans, senior term loans, lines of credit, and senior notes; senior subordinated debt securities such as senior subordinated loans and senior subordinated notes; junior subordinated debt securities such as subordinated notes and mezzanine loans; limited liability company interests, and warrants or options.