Gladstone Investment Co. (NASDAQ:GAIN) announced a monthly dividend on Wednesday, July 11th, Wall Street Journal reports. Shareholders of record on Wednesday, September 19th will be paid a dividend of 0.067 per share by the investment management company on Friday, September 28th. This represents a $0.80 dividend on an annualized basis and a yield of 6.88%. The ex-dividend date is Tuesday, September 18th.

Gladstone Investment has increased its dividend payment by an average of 2.1% per year over the last three years and has raised its dividend annually for the last 5 consecutive years. Gladstone Investment has a payout ratio of 105.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Gladstone Investment to earn $0.82 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 97.6%.

Shares of GAIN stock opened at $11.69 on Thursday. Gladstone Investment has a 52-week low of $9.00 and a 52-week high of $12.26. The stock has a market capitalization of $383.37 million, a price-to-earnings ratio of 14.24 and a beta of 0.53.

Gladstone Investment (NASDAQ:GAIN) last issued its quarterly earnings data on Wednesday, August 1st. The investment management company reported $0.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.01. Gladstone Investment had a net margin of 140.89% and a return on equity of 7.64%. The business had revenue of $15.50 million during the quarter, compared to the consensus estimate of $15.16 million. equities analysts predict that Gladstone Investment will post 0.76 earnings per share for the current fiscal year.

A number of equities research analysts have issued reports on GAIN shares. Zacks Investment Research raised shares of Gladstone Investment from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research report on Friday, May 18th. BidaskClub raised shares of Gladstone Investment from a “hold” rating to a “buy” rating in a research report on Wednesday, May 23rd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Gladstone Investment presently has a consensus rating of “Buy” and a consensus target price of $11.33.

Gladstone Investment Company Profile

Gladstone Investment Corporation is a business development company specializing in buyouts; recapitalizations; refinancing existing debt; senior debt securities such as senior loans, senior term loans, lines of credit, and senior notes; senior subordinated debt securities such as senior subordinated loans and senior subordinated notes; junior subordinated debt securities such as subordinated notes and mezzanine loans; limited liability company interests, and warrants or options.

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Dividend History for Gladstone Investment (NASDAQ:GAIN)

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