Gladstone Capital Co. (GLAD) To Go Ex-Dividend on May 16th

Gladstone Capital Co. (NASDAQ:GLAD) announced a monthly dividend on Friday, April 12th, Wall Street Journal reports. Stockholders of record on Friday, May 17th will be paid a dividend of 0.165 per share by the investment management company on Friday, May 31st. This represents a $1.98 dividend on an annualized basis and a dividend yield of 9.75%. The ex-dividend date of this dividend is Thursday, May 16th.

Gladstone Capital has increased its dividend by an average of 6.5% per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Gladstone Capital has a dividend payout ratio of 45.4% meaning 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 Price Performance

Shares of GLAD opened at $20.31 on Friday. Gladstone Capital has a 12 month low of $18.38 and a 12 month high of $22.56. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.05 and a quick ratio of 0.05. The stock has a fifty day moving average price of $20.46 and a 200 day moving average price of $20.46. The company has a market cap of $441.74 million, a P/E ratio of 7.05 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 (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.02). Gladstone Capital had a net margin of 63.05% and a return on equity of 11.59%. The firm had revenue of $23.22 million for the quarter, compared to analyst estimates of $23.39 million. On average, research analysts forecast that Gladstone Capital will post 2.2 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Money Concepts Capital Corp bought a new stake in shares of Gladstone Capital during the fourth quarter valued at about $36,000. JPMorgan Chase & Co. bought a new stake in shares of Gladstone Capital during the 2nd quarter worth about $36,000. Garner Asset Management Corp acquired a new stake in shares of Gladstone Capital in the 4th quarter worth approximately $40,000. BNP Paribas Arbitrage SA boosted its holdings in shares of Gladstone Capital by 230.5% in the first quarter. BNP Paribas Arbitrage SA now owns 4,300 shares of the investment management company’s stock valued at $51,000 after acquiring an additional 2,999 shares in the last quarter. Finally, BNP Paribas Arbitrage SNC bought a new stake in Gladstone Capital during the second quarter worth approximately $78,000. Institutional investors and hedge funds own 10.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Gladstone Capital from a “sell” rating to a “hold” rating in a research report on Saturday.

About Gladstone Capital

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.