Gladstone Investment Co. (NASDAQ:GAIN) announced a monthly dividend on Wednesday, July 11th, Wall Street Journal reports. Stockholders 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 dividend yield of 6.87%. The ex-dividend date of this dividend is Tuesday, September 18th.
Gladstone Investment has increased its dividend payment by an average of 2.1% annually over the last three years and has raised its dividend annually for the last 5 consecutive years. Gladstone Investment has a dividend payout ratio of 105.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 NASDAQ GAIN opened at $11.70 on Monday. The stock has a market cap of $383.70 million, a PE ratio of 14.27 and a beta of 0.53. Gladstone Investment has a 12 month low of $9.00 and a 12 month high of $12.26.
Gladstone Investment (NASDAQ:GAIN) last issued its quarterly earnings results on Wednesday, August 1st. The investment management company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. The business had revenue of $15.50 million during the quarter, compared to the consensus estimate of $15.16 million. Gladstone Investment had a net margin of 140.89% and a return on equity of 7.64%. research analysts predict that Gladstone Investment will post 0.76 EPS for the current year.
A number of equities research analysts have recently commented on the stock. BidaskClub upgraded shares of Gladstone Investment from a “hold” rating to a “buy” rating in a report on Wednesday, May 23rd. Zacks Investment Research upgraded shares of Gladstone Investment from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a report on Tuesday, August 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” 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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