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

Gladstone Capital Co. (NASDAQ:GLAD) announced a monthly dividend on Tuesday, April 9th, Wall Street Journal reports. Shareholders of record on Friday, April 19th will be given a dividend of 0.165 per share by the investment management company on Tuesday, April 30th. This represents a $1.98 annualized dividend and a yield of 9.60%. The ex-dividend date is Thursday, April 18th.

Gladstone Capital has increased its dividend payment by an average of 6.5% per year over the last three years. Gladstone Capital has a payout ratio of 90.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Gladstone Capital to earn $2.18 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 90.8%.

Gladstone Capital Stock Performance

Shares of Gladstone Capital stock traded up $0.16 during trading hours on Wednesday, reaching $20.62. The company’s stock had a trading volume of 214,603 shares, compared to its average volume of 150,865. Gladstone Capital has a one year low of $18.38 and a one year high of $22.56. The company’s 50 day simple moving average is $20.47 and its 200 day simple moving average is $20.49. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.05 and a current ratio of 0.05. The stock has a market cap of $448.49 million, a P/E ratio of 7.17 and a beta of 1.25.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Millennium Management LLC acquired a new position in shares of Gladstone Capital during the 2nd quarter worth about $3,878,000. Advisors Asset Management Inc. grew its holdings in shares of Gladstone Capital by 3.9% in the 1st quarter. Advisors Asset Management Inc. now owns 358,291 shares of the investment management company’s stock valued at $3,368,000 after buying an additional 13,511 shares during the period. LPL Financial LLC increased its position in shares of Gladstone Capital by 18.6% in the 2nd quarter. LPL Financial LLC now owns 295,820 shares of the investment management company’s stock valued at $2,985,000 after buying an additional 46,300 shares in the last quarter. Legal & General Group Plc boosted its position in Gladstone Capital by 7.1% during the 4th quarter. Legal & General Group Plc now owns 293,169 shares of the investment management company’s stock worth $3,135,000 after acquiring an additional 19,472 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Gladstone Capital during the 2nd quarter worth approximately $1,681,000. Institutional investors and hedge funds own 10.72% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com raised Gladstone Capital from a “sell” rating to a “hold” rating in a report on Saturday.

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.