Gladstone Investment Corporation (NASDAQ:GAIN) Declares $0.08 Monthly Dividend
by Tristan Rich · The Markets DailyGladstone Investment Corporation (NASDAQ:GAIN – Get Free Report) announced a monthly dividend on Tuesday, April 14th. Investors of record on Friday, April 24th will be given a dividend of 0.08 per share by the investment management company on Thursday, April 30th. This represents a c) annualized dividend and a yield of 6.3%. The ex-dividend date of this dividend is Friday, April 24th.
Gladstone Investment has raised its dividend by an average of 0.1%per year over the last three years. Gladstone Investment has a 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 fall. Analysts expect Gladstone Investment to earn $0.94 per share next year, which means the company may not be able to cover its $0.96 annual dividend with an expected future payout ratio of 102.1%.
Gladstone Investment Trading Up 0.9%
GAIN stock opened at $15.14 on Wednesday. Gladstone Investment has a 12-month low of $13.11 and a 12-month high of $15.34. The stock has a market cap of $602.87 million, a price-to-earnings ratio of 4.87 and a beta of 0.78. The business’s 50-day moving average is $14.09 and its 200 day moving average is $13.95.
Gladstone Investment (NASDAQ:GAIN – Get Free Report) last posted its quarterly earnings data on Tuesday, February 3rd. The investment management company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.03). Gladstone Investment had a return on equity of 6.77% and a net margin of 118.55%.The firm had revenue of $25.06 million during the quarter, compared to analyst estimates of $25.83 million. As a group, equities analysts forecast that Gladstone Investment will post 0.96 EPS for the current fiscal year.
About Gladstone Investment
Gladstone Investment (NASDAQ: GAIN) is a publicly traded business development company (BDC) that focuses on providing debt and equity financing to U.S. middle-market companies. As an externally managed closed-end fund, Gladstone Investment seeks to generate current income and capital appreciation for its shareholders by originating senior secured debt, subordinated debt and equity investments. The firm typically targets established businesses with revenues between $10 million and $150 million, across a range of industry sectors including business services, health care, industrials and specialty manufacturing.
The company’s investment strategy centers on deploying capital through first-lien and second-lien term loans, mezzanine debt and equity co-investments, often including warrants or other equity kickers.