Gladstone Capital Corporation (NASDAQ:GLAD) Stock to Pay Monthly Dividend of $0.15

Gladstone Capital Corporation (NASDAQ:GLAD) announced a monthly dividend on Tuesday, October 13th. Shareholders of record on Thursday, November 19th will be given a dividend of $0.15 per share by the investment management company on Monday, November 30th. This represents a $1.80 annualized dividend and a yield of 9.5%. The ex-dividend date is Thursday, November 19th.

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 dividend payout ratio of 89.6% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities 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 Price Performance

GLAD opened at $19.01 on Wednesday. The firm has a market cap of $429.44 million, a PE ratio of 9.23 and a beta of 0.94. The stock has a 50-day moving average price of $19.51 and a 200-day moving average price of $19.16. Gladstone Capital has a 1 year low of $16.54 and a 1 year high of $21.73.

Gladstone Capital (NASDAQ:GLAD) last released its quarterly earnings data on Tuesday, August 4th. The investment management company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.01. The business had revenue of $24.50 million for the quarter, compared to analysts’ expectations of $24.90 million. Gladstone Capital had a return on equity of 9.67% and a net margin of 50.48%. As a group, sell-side analysts anticipate that Gladstone Capital will post 1.99 EPS for the current year.

Institutional Investors Weigh In On Gladstone Capital

A number of institutional investors and hedge funds have recently bought and sold shares of the business. B. Riley Wealth Advisors Inc. increased its position in Gladstone Capital by 66.0% in the third quarter. B. Riley Wealth Advisors Inc. now owns 225,027 shares of the investment management company’s stock worth $4,327,000 after purchasing an additional 89,446 shares during the last quarter. Miller Global Investments LLC raised its stake in Gladstone Capital by 200.8% during the third quarter. Miller Global Investments LLC now owns 48,139 shares of the investment management company’s stock valued at $926,000 after purchasing an additional 32,136 shares in the last quarter. Sunbelt Securities Inc. purchased a new stake in Gladstone Capital during the first quarter valued at $142,000. Finally, Entropy Technologies LP bought a new position in Gladstone Capital during the first quarter valued at $179,000. 10.72% of the stock is owned by institutional investors.

About Gladstone Capital

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.