Gladstone Capital Co. (NASDAQ:GLAD) to Issue Dividend Increase – $0.40 Per Share

Gladstone Capital Co. (NASDAQ:GLAD) declared a dividend on Tuesday, November 12th,NASDAQ Dividends reports. Shareholders of record on Wednesday, December 4th will be paid a dividend of 0.40 per share by the investment management company on Wednesday, December 18th. The ex-dividend date of this dividend is Wednesday, December 4th. This is a boost from Gladstone Capital’s previous dividend of $0.17.

Gladstone Capital has increased its dividend payment by an average of 6.5% per year over the last three years. Gladstone Capital has a dividend payout ratio of 96.6% meaning 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 $2.05 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 96.6%.

Gladstone Capital Price Performance

GLAD stock traded down $0.12 during mid-day trading on Thursday, reaching $25.56. 238,112 shares of the company’s stock were exchanged, compared to its average volume of 127,895. The stock’s 50 day moving average is $24.12 and its 200 day moving average is $23.29. Gladstone Capital has a 12-month low of $19.20 and a 12-month high of $27.81. The company has a market cap of $555.93 million, a price-to-earnings ratio of 8.52 and a beta of 1.25. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.02 and a quick ratio of 0.02.

Wall Street Analyst Weigh In

Separately, B. Riley initiated coverage on shares of Gladstone Capital in a report on Wednesday, October 23rd. They set a “neutral” rating and a $23.00 price objective on the stock.

Gladstone Capital Company Profile

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.