Gladstone Investment Co. (GAIN) to Issue Monthly Dividend of $0.08 on October 31st

Gladstone Investment Co. (NASDAQ:GAIN) announced a monthly dividend on Tuesday, October 8th, Zacks reports. Shareholders of record on Tuesday, October 22nd will be given a dividend of 0.08 per share by the investment management company on Thursday, October 31st. This represents a $0.96 annualized dividend and a dividend yield of 6.75%. The ex-dividend date of this dividend is Tuesday, October 22nd.

Gladstone Investment has a payout ratio of 91.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Gladstone Investment to earn $0.97 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 99.0%.

Gladstone Investment Stock Performance

NASDAQ:GAIN opened at $14.22 on Friday. The stock has a 50-day simple moving average of $13.39 and a 200 day simple moving average of $13.78. Gladstone Investment has a 52-week low of $12.25 and a 52-week high of $14.96. The company has a market cap of $521.72 million, a PE ratio of 5.73 and a beta of 1.33.

Gladstone Investment (NASDAQ:GAIN) last announced its quarterly earnings data on Monday, August 5th. The investment management company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). The business had revenue of $22.18 million during the quarter, compared to the consensus estimate of $24.27 million. Gladstone Investment had a return on equity of 7.20% and a net margin of 78.48%. During the same period in the prior year, the firm earned $0.25 EPS. On average, research analysts predict that Gladstone Investment will post 1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on GAIN shares. StockNews.com lowered Gladstone Investment from a “hold” rating to a “sell” rating in a report on Tuesday, October 15th. B. Riley decreased 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.

About Gladstone Investment

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.