Gladstone Investment Co. (GAIN) to Issue Dividend of $0.70 on October 14th

Gladstone Investment Co. (NASDAQ:GAIN) declared a dividend on Tuesday, September 17th, NASDAQ reports. Shareholders of record on Friday, October 4th will be paid a dividend of 0.70 per share by the investment management company on Monday, October 14th. The ex-dividend date is Friday, October 4th.

Gladstone Investment has a dividend payout ratio of 91.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Gladstone Investment to earn $0.98 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 98.0%.

Gladstone Investment Stock Performance

Shares of Gladstone Investment stock traded up $0.18 on Thursday, reaching $13.63. 202,901 shares of the company were exchanged, compared to its average volume of 141,510. The firm has a market cap of $500.07 million, a price-to-earnings ratio of 5.50 and a beta of 1.33. The company’s 50-day moving average is $13.30 and its two-hundred day moving average is $13.77. Gladstone Investment has a 1-year low of $12.14 and a 1-year high of $14.96.

Gladstone Investment (NASDAQ:GAIN) last issued its quarterly earnings data on Monday, August 5th. The investment management company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). Gladstone Investment had a return on equity of 7.20% and a net margin of 78.48%. The business had revenue of $22.18 million during the quarter, compared to the consensus estimate of $24.27 million. During the same period last year, the company earned $0.25 earnings per share. As a group, sell-side analysts forecast that Gladstone Investment will post 0.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, B. Riley cut their target price on shares of Gladstone Investment from $14.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th.

Gladstone Investment Company Profile

Gladstone Investment Corporation is business development company, specializes in lower middle market, mature stage, buyouts; 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.