Gladstone Investment Corporation (GAIN) Announces Special Dividend of $0.06
Gladstone Investment Corporation (NASDAQ:GAIN) announced a special dividend on Friday, October 13th, Wall Street Journal reports. Shareholders of record on Tuesday, December 5th will be given a dividend of 0.06 per share by the investment management company on Friday, December 15th. This represents a yield of 7.93%. The ex-dividend date of this dividend is Monday, December 4th.
Shares of Gladstone Investment Corporation (NASDAQ:GAIN) opened at 9.84 on Friday. Gladstone Investment Corporation has a 12-month low of $7.16 and a 12-month high of $9.87. The company’s 50 day moving average is $9.37 and its 200 day moving average is $9.36.
Gladstone Investment Corporation (NASDAQ:GAIN) last posted its quarterly earnings data on Tuesday, August 1st. The investment management company reported $0.17 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.17. Gladstone Investment Corporation had a net margin of 55.52% and a return on equity of 6.95%. The company had revenue of $13.62 million for the quarter, compared to the consensus estimate of $13.01 million. On average, analysts predict that Gladstone Investment Corporation will post $0.70 EPS for the current year.
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GAIN has been the topic of a number of recent analyst reports. BidaskClub downgraded shares of Gladstone Investment Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Zacks Investment Research upgraded shares of Gladstone Investment Corporation from a “sell” rating to a “hold” rating in a report on Friday, September 1st. ValuEngine downgraded shares of Gladstone Investment Corporation from a “buy” rating to a “hold” rating in a report on Thursday, August 17th. Finally, Jefferies Group LLC restated a “hold” rating and set a $9.00 target price on shares of Gladstone Investment Corporation in a report on Friday, July 14th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $9.50.
About Gladstone Investment Corporation
Gladstone Investment Corporation is an externally managed, closed-end, non-diversified management investment company. The Company’s investment objectives are to achieve and grow current income by investing in debt securities of established businesses that it believes will provide stable earnings and cash flow to pay expenses, make principal and interest payments on its outstanding indebtedness and make distributions to stockholders that grow over time, and provide its stockholders with long-term capital appreciation in the value of its assets by investing in equity securities, generally in combination with the aforementioned debt securities, of businesses that it believes can grow over time to permit it to sell its equity investments for capital gains.
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