Gladstone Capital Corporation (GLAD) to Issue $0.07 Monthly Dividend
Gladstone Capital Corporation (NASDAQ:GLAD) declared a monthly dividend on Wednesday, October 11th, Wall Street Journal reports. Investors of record on Monday, November 20th will be paid a dividend of 0.07 per share by the investment management company on Thursday, November 30th. This represents a $0.84 dividend on an annualized basis and a yield of 8.78%. The ex-dividend date is Friday, November 17th.
Shares of Gladstone Capital Corporation (NASDAQ GLAD) remained flat at $9.57 on Wednesday. 93,793 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $9.29 and a 200 day moving average of $9.65. Gladstone Capital Corporation has a 52-week low of $7.33 and a 52-week high of $10.12.
Gladstone Capital Corporation (NASDAQ:GLAD) last posted its quarterly earnings results on Wednesday, August 2nd. The investment management company reported $0.21 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.21. Gladstone Capital Corporation had a net margin of 85.01% and a return on equity of 9.88%. The business had revenue of $9.63 million for the quarter, compared to the consensus estimate of $10.30 million. On average, equities research analysts expect that Gladstone Capital Corporation will post $0.80 EPS for the current fiscal year.
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In other Gladstone Capital Corporation news, President Robert L. Marcotte acquired 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The stock was purchased at an average cost of $9.22 per share, for a total transaction of $36,880.00. Following the completion of the acquisition, the president now owns 370,720 shares of the company’s stock, valued at approximately $3,418,038.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 6.45% of the company’s stock.
A number of equities analysts have recently weighed in on GLAD shares. BidaskClub downgraded shares of Gladstone Capital Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 17th. National Securities reaffirmed a “sell” rating and issued a $8.00 price target on shares of Gladstone Capital Corporation in a research note on Tuesday, September 26th. Wedbush started coverage on shares of Gladstone Capital Corporation in a research note on Wednesday, September 27th. They issued a “neutral” rating and a $9.40 price target on the stock. Zacks Investment Research downgraded shares of Gladstone Capital Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Finally, Ladenburg Thalmann Financial Services started coverage on shares of Gladstone Capital Corporation in a research note on Friday, October 6th. They issued a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $9.16.
About Gladstone Capital Corporation
Gladstone Capital Corporation is a closed-end, non-diversified management investment company, operating as a business development company (BDC). The objectives of the Company 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 to provide its stockholders with long-term capital appreciation in the value of its assets by investing in equity securities of established businesses that it believes can grow over time to permit it to sell its equity investments for capital gains.
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