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

Gladstone Capital Co. (NASDAQ:GLAD - Get Free Report) announced a monthly dividend on Monday, April 15th, Wall Street Journal reports. Shareholders of record on Wednesday, June 19th will be given a dividend of 0.165 per share by the investment management company on Friday, June 28th. This represents a $1.98 dividend on an annualized basis and a yield of 9.71%. The ex-dividend date of this dividend is Tuesday, June 18th.

Gladstone Capital has raised its dividend payment by an average of 6.5% annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Gladstone Capital has a payout ratio of 45.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Gladstone Capital to earn $2.18 per share next year, which means the company should continue to be able to cover its $0.99 annual dividend with an expected future payout ratio of 45.4%.

Gladstone Capital Stock Up 0.4 %

Shares of GLAD stock traded up $0.09 during trading hours on Monday, reaching $20.40. 156,974 shares of the company's stock were exchanged, compared to its average volume of 150,623. The stock's 50 day moving average is $20.46 and its 200-day moving average is $20.48. The company has a market cap of $443.70 million, a price-to-earnings ratio of 7.08 and a beta of 1.25. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.20. Gladstone Capital has a fifty-two week low of $18.38 and a fifty-two week high of $22.56.

Gladstone Capital (NASDAQ:GLAD - Get Free Report) last issued its quarterly earnings results on Monday, February 5th. The investment management company reported $0.54 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.56 by ($0.02). The business 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%. Analysts predict that Gladstone Capital will post 2.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Gladstone Capital

Several hedge funds have recently made changes to their positions in GLAD. Money Concepts Capital Corp acquired a new position in shares of Gladstone Capital during the 4th quarter worth approximately $36,000. JPMorgan Chase & Co. acquired a new position in shares of Gladstone Capital during the 2nd quarter worth approximately $36,000. Garner Asset Management Corp acquired a new position in shares of Gladstone Capital during the 4th quarter worth approximately $40,000. BNP Paribas Arbitrage SA raised its position in shares of Gladstone Capital by 230.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,300 shares of the investment management company's stock valued at $51,000 after buying an additional 2,999 shares during the period. Finally, BNP Paribas Arbitrage SNC purchased a new stake in shares of Gladstone Capital during the 2nd quarter valued at approximately $78,000. 10.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com raised Gladstone Capital from a "sell" rating to a "hold" rating in a research 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.