Welcome to our dedicated page for Gladstone Capital Corporation news (Ticker: GLAD), a resource for investors and traders seeking the latest updates and insights on Gladstone Capital Corporation stock.
Gladstone Capital Corporation (Nasdaq: GLAD) is a publicly traded business development company that focuses on investing in debt and equity securities. Primarily, the company specializes in secured first and second lien term loans to lower middle market businesses across the United States. Managed externally, Gladstone Capital aims to achieve consistent income and capital appreciation for its stockholders.
Established as part of the family of Gladstone Companies, Gladstone Capital operates alongside other entities like Gladstone Investment Corporation (Nasdaq: GAIN), Gladstone Commercial Corporation (Nasdaq: GOOD), and Gladstone Land Corporation (Nasdaq: LAND). Each of these companies focuses on different investment areas such as commercial real estate, farmland, and small to medium-sized enterprises.
Gladstone Capital typically targets investments ranging from $5 to $30 million in companies with over $3 million in EBITDA. The company’s investment portfolio spans various sectors, including light and specialty manufacturing, industrial products and services, business and government services, aerospace and defense, media and communications, consumer products and services, and healthcare services.
Recent Achievements and Financial Highlights:
- For the fiscal year ended September 30, 2023, Gladstone Capital reported a total investment income of $86.4 million, a significant increase from the previous year.
- The company has consistently grown its net investment income, achieving $41.0 million in 2023, up by 27.1% from the prior year.
- Recent earnings reports indicate stable financial health, with increases in both net asset value and shareholder distributions.
Current Projects and Partnerships:
- Gladstone Capital continues to bolster its portfolio, recently acting as the Administrative Agent and Lead Arranger on a $55 million senior secured credit facility for Café Zupas, a fast-casual restaurant chain.
- The company is focused on providing flexible financing solutions to businesses, ensuring robust support for growth and expansion initiatives.
The company remains committed to its investment strategy, maintaining a diversified portfolio aimed at generating stable earnings and cash flow. With a strong emphasis on maintaining transparent communication with stakeholders, Gladstone Capital regularly updates its financial performance and strategic initiatives.
Gladstone Capital (Nasdaq: GLAD) announced its board of directors declared monthly cash distributions for July, August, and September 2024. Common stockholders will receive $0.165 per share each month, totaling $0.495 for the quarter. Series A Preferred Stockholders will get $0.130208 per share each month, totaling $0.390624 for the quarter. The company offers a dividend reinvestment plan for common stockholders.
Additionally, Gladstone Capital plans to report earnings for its third fiscal quarter, which ended June 30, 2024, after market close on August 7, 2024. A conference call to discuss the earnings will be held on August 8, 2024, at 8:30 a.m. ET. Replay options will be available until August 15, 2024.
Gladstone Capital is a business development company investing in debt and equity securities, mainly in secured first and second lien term loans to lower middle market businesses in the U.S. For more information, visit Gladstone's website or contact Investor Relations.
Gladstone Capital reported its financial results for the second fiscal quarter ended March 31, 2024. Total investment income increased by 3.3%, with net investment income per common share decreasing by 7.4%. The company had a net asset value per common share of $9.90. Portfolio activity included investments in new and existing companies, with a focus on first lien assets. Total investment income rose due to higher interest income, while expenses increased mainly due to a rise in management fees. The net asset increase from operations was $23.6 million, driven by net unrealized appreciation. Subsequent events included investments in Total Access Elevator, and the payoff of debt investments in Giving Home Healthcare, and Gray Matter Systems, The company completed a reverse stock split, doubling its NAV per share to $19.80. Distributions were declared to common and preferred stockholders for the quarter.
Gladstone Capital (Nasdaq: GLAD) announces its Second Fiscal Quarter earnings call and webcast scheduled for May 2, 2024. The company is a business development firm investing in debt and equity securities. The event provides investors with insights into the company's financial performance and operations.
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