Gladstone Investment Co. (NASDAQ:GAIN) announced a monthly dividend on Wednesday, January 9th, Wall Street Journal reports. Stockholders of record on Friday, January 18th will be paid a dividend of 0.068 per share by the investment management company on Thursday, January 31st. This represents a $0.82 annualized dividend and a dividend yield of 7.88%. The ex-dividend date of this dividend is Thursday, January 17th.
Gladstone Investment has increased its dividend payment by an average of 2.6% annually over the last three years and has increased its dividend annually for the last 6 consecutive years. Gladstone Investment has a dividend payout ratio of 107.9% meaning 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 NASDAQ:GAIN opened at $10.36 on Friday. Gladstone Investment has a 52-week low of $8.70 and a 52-week high of $12.26. The stock has a market capitalization of $333.15 million, a PE ratio of 12.63 and a beta of 0.59.
In other Gladstone Investment news, President David A. R. Dullum purchased 5,600 shares of the business’s stock in a transaction on Thursday, November 8th. The stock was purchased 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 directly owns 91,816 shares in the company, valued at $912,651.04. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have acquired 8,500 shares of company stock valued at $84,494. Corporate insiders own 2.51% of the company’s stock.
Several equities research analysts recently weighed in on GAIN shares. BidaskClub upgraded shares of Gladstone Investment from a “sell” rating to a “hold” rating in a research note on Saturday, December 8th. Zacks Investment Research cut shares of Gladstone Investment from a “hold” rating to a “sell” rating in a research note on Friday, November 9th. Finally, ValuEngine cut shares of Gladstone Investment from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price 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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