Gladstone Capital Corporation Plans Special Dividend of $0.18 (NASDAQ:GLAD)

Gladstone Capital Corporation (NASDAQ:GLAD) announced a special dividend on Monday, August 31st. Shareholders of record on Thursday, September 10th will be given a dividend of 0.18 per share by the investment management company on Wednesday, September 16th. The ex-dividend date is Thursday, September 10th.

Gladstone Capital has increased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Gladstone Capital has a dividend 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 tumble. Research 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

Shares of Gladstone Capital stock opened at $20.15 on Tuesday. The firm has a fifty day moving average of $19.47 and a two-hundred day moving average of $18.89. The stock has a market capitalization of $455.19 million, a price-to-earnings ratio of 9.78 and a beta of 0.92. Gladstone Capital has a 52 week low of $16.54 and a 52 week high of $26.60.

Gladstone Capital (NASDAQ:GLAD) last posted its quarterly earnings results on Tuesday, August 4th. The investment management company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. Gladstone Capital had a return on equity of 9.67% and a net margin of 50.48%.The company had revenue of $24.50 million for the quarter, compared to the consensus estimate of $24.90 million. As a group, research analysts forecast that Gladstone Capital will post 1.99 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on GLAD shares. B. Riley Financial restated a “buy” rating on shares of Gladstone Capital in a research report on Friday, May 8th. Weiss Ratings raised shares of Gladstone Capital from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 2nd. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $21.67.

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.