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

Gladstone Capital Corporation (NASDAQ:GLAD) announced a monthly dividend on Tuesday, July 14th. Stockholders of record on Monday, September 21st will be paid a dividend of 0.15 per share by the investment management company on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 9.1%. The ex-dividend date of this dividend is Monday, September 21st.

Gladstone Capital has increased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 4 years. Gladstone Capital has a payout ratio of 89.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. 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 Stock Performance

GLAD opened at $19.80 on Wednesday. The stock has a market capitalization of $447.28 million, a PE ratio of 10.82 and a beta of 0.92. The stock’s 50 day moving average price is $19.27 and its 200-day moving average price is $19.13. Gladstone Capital has a 52-week low of $16.54 and a 52-week high of $29.50.

Gladstone Capital (NASDAQ:GLAD) last announced its quarterly earnings results on Wednesday, May 6th. The investment management company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. The company had revenue of $25.99 million during the quarter, compared to analyst estimates of $25.19 million. Gladstone Capital had a return on equity of 9.79% and a net margin of 45.15%. Research analysts forecast that Gladstone Capital will post 2.01 EPS for the current fiscal year.

Institutional Trading of Gladstone Capital

Hedge funds have recently made changes to their positions in the stock. Miller Global Investments LLC bought a new position in Gladstone Capital during the 2nd quarter valued at approximately $311,000. Sunbelt Securities Inc. bought a new stake in Gladstone Capital in the first quarter worth $142,000. Entropy Technologies LP bought a new position in Gladstone Capital in the 1st quarter worth about $179,000. Virtu Financial LLC bought a new position in Gladstone Capital in the 4th quarter worth about $213,000. Finally, Virtus Investment Advisers LLC grew its position in Gladstone Capital by 60.5% during the 4th quarter. Virtus Investment Advisers LLC now owns 28,401 shares of the investment management company’s stock valued at $587,000 after purchasing an additional 10,703 shares during the last quarter. 10.72% of the stock is owned by institutional investors.

About Gladstone Capital

Gladstone Capital Corporation is a publicly traded business development company (BDC) that provides debt and equity financing solutions to U.S. lower middle-market companies. Operating under an external management agreement with Gladstone Management L.P., the firm offers senior secured loans, mezzanine debt and equity investments designed to support growth initiatives, acquisitions and recapitalizations. Through its focus on privately held businesses, Gladstone Capital seeks to construct a diversified portfolio across various industry sectors.

Since its formation in 2003, Gladstone Capital has developed a track record of working closely with management teams and business owners to meet their capital needs.