Gladstone Capital Co. Announces Monthly Dividend of $0.17 (NASDAQ:GLAD)

Gladstone Capital Co. (NASDAQ:GLAD) announced a monthly dividend on Tuesday, April 9th, Zacks reports. Investors of record on Friday, April 19th will be paid a dividend of 0.165 per share by the investment management company on Tuesday, April 30th. This represents a $1.98 dividend on an annualized basis and a dividend yield of 9.71%. The ex-dividend date of this dividend is Thursday, April 18th.

Gladstone Capital has increased its dividend by an average of 6.5% annually over the last three years and has increased its dividend every year for the last 2 years. Gladstone Capital has a dividend payout ratio of 45.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Gladstone Capital to earn $2.18 per share next year, which means the company should continue to be able to cover its $0.99 annual dividend with an expected future payout ratio of 45.4%.

Gladstone Capital Stock Up 0.4 %

Shares of NASDAQ:GLAD opened at $20.40 on Tuesday. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.20. The company has a fifty day simple moving average of $20.46 and a 200 day simple moving average of $20.48. The firm has a market cap of $443.70 million, a PE ratio of 7.08 and a beta of 1.25. Gladstone Capital has a 12-month low of $18.38 and a 12-month high of $22.56.

Gladstone Capital (NASDAQ:GLAD) last issued its quarterly earnings results on Monday, February 5th. The investment management company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.02). Gladstone Capital had a return on equity of 11.59% and a net margin of 63.05%. The company had revenue of $23.22 million during the quarter, compared to the consensus estimate of $23.39 million. On average, equities research analysts anticipate that Gladstone Capital will post 2.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Gladstone Capital from a “sell” rating to a “hold” rating in a research note on Saturday.

Hedge Funds Weigh In On Gladstone Capital

Several hedge funds and other institutional investors have recently modified their holdings of the company. Legal & General Group Plc boosted its holdings in shares of Gladstone Capital by 7.1% during the fourth quarter. Legal & General Group Plc now owns 293,169 shares of the investment management company’s stock valued at $3,135,000 after acquiring an additional 19,472 shares during the period. Royal Bank of Canada lifted its holdings in Gladstone Capital by 13.3% in the fourth quarter. Royal Bank of Canada now owns 50,160 shares of the investment management company’s stock worth $537,000 after purchasing an additional 5,903 shares during the period. Garner Asset Management Corp acquired a new stake in Gladstone Capital in the fourth quarter worth about $40,000. UBS Group AG lifted its holdings in Gladstone Capital by 125.7% in the fourth quarter. UBS Group AG now owns 28,044 shares of the investment management company’s stock worth $300,000 after purchasing an additional 15,619 shares during the period. Finally, Qube Research & Technologies Ltd acquired a new stake in Gladstone Capital in the third quarter worth about $459,000. Institutional investors and hedge funds own 10.72% of the company’s 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.