Gladstone Investment Co. (NASDAQ:GAIN) announced a monthly dividend on Wednesday, April 10th, Wall Street Journal reports. Stockholders of record on Monday, April 22nd will be paid a dividend of 0.068 per share by the investment management company on Tuesday, April 30th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 6.46%. The ex-dividend date is Thursday, April 18th.
Gladstone Investment has raised its dividend by an average of 2.6% per year over the last three years and has raised its dividend annually for the last 6 consecutive years. Gladstone Investment has a dividend payout ratio of 107.9% 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 $0.80 per share next year, which means the company may not be able to cover its $0.82 annual dividend with an expected future payout ratio of 102.5%.
Shares of GAIN stock opened at $12.64 on Wednesday. The company has a market capitalization of $410.28 million, a PE ratio of 15.41 and a beta of 0.79. Gladstone Investment has a fifty-two week low of $8.70 and a fifty-two week high of $12.70.
GAIN has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Gladstone Investment from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research note on Thursday, February 7th. BidaskClub upgraded Gladstone Investment from a “hold” rating to a “buy” rating in a research note on Friday, January 11th.
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About Gladstone Investment
Gladstone Investment Corporation is a private equity fund specializing in lower middle market, acquisitions, mature stage, 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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