Gladstone Investment Co. (GAIN) to Issue Monthly Dividend of $0.07

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Gladstone Investment Co. (NASDAQ:GAIN) declared a monthly dividend on Wednesday, January 9th, Wall Street Journal reports. Stockholders of record on Wednesday, March 20th will be given a dividend of 0.068 per share by the investment management company on Friday, March 29th. This represents a $0.82 annualized dividend and a dividend yield of 8.04%. The ex-dividend date of this dividend is Tuesday, March 19th.

Gladstone Investment has raised its dividend by an average of 2.6% per year over the last three years and has increased its dividend every year for the last 6 years. Gladstone Investment has a dividend payout ratio of 107.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Gladstone Investment to earn $0.76 per share next year, which means the company may not be able to cover its $0.82 annual dividend with an expected future payout ratio of 107.9%.

Shares of GAIN stock traded up $0.13 on Wednesday, hitting $10.15. 195,677 shares of the stock were exchanged, compared to its average volume of 117,329. The stock has a market capitalization of $316.41 million, a P/E ratio of 12.38 and a beta of 0.59. Gladstone Investment has a fifty-two week low of $8.70 and a fifty-two week high of $12.26.

Gladstone Investment (NASDAQ:GAIN) last released its earnings results on Monday, November 5th. The investment management company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.32). Gladstone Investment had a return on equity of 6.58% and a net margin of 168.91%. The company had revenue of $13.09 million for the quarter, compared to the consensus estimate of $15.37 million. As a group, sell-side analysts anticipate that Gladstone Investment will post 0.67 earnings per share for the current fiscal year.

In other news, President David A. R. Dullum bought 5,600 shares of the stock in a transaction dated Thursday, November 8th. The shares were bought at an average price of $9.94 per share, for a total transaction of $55,664.00. Following the completion of the purchase, the president now owns 91,816 shares in the company, valued at $912,651.04. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders acquired 8,500 shares of company stock worth $84,494 in the last 90 days. Corporate insiders own 2.51% of the company’s stock.

Several analysts recently issued reports on GAIN shares. Zacks Investment Research upgraded Gladstone Investment from a “sell” rating to a “hold” rating in a report on Monday, October 22nd. ValuEngine lowered Gladstone Investment from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Finally, BidaskClub upgraded Gladstone Investment from a “sell” rating to a “hold” rating in a report on Saturday, December 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $12.00.

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About Gladstone Investment

Gladstone Investment Corporation is a private equity fund specializing in lower middle market, acquisitions, mature stage, buyouts; recapitalizations; 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.

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Dividend History for Gladstone Investment (NASDAQ:GAIN)

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