Gladstone Capital Announces $0.40 Supplemental Cash Distribution to Common Stockholders
Rhea-AI Summary
Gladstone Capital (NASDAQ:GLAD) has declared a $0.40 supplemental cash distribution per share to common stockholders, payable on December 18, 2024, with a record date of December 4. This special distribution follows the company's successful sale of its equity interest and debt investment prepayment in Antenna Research Associates, Inc., which resulted in a significant capital gain. The company maintains a dividend reinvestment plan (DRIP) for common stockholders.
Positive
- Announced $0.40 per share supplemental cash distribution
- Realized significant capital gain from Antenna Research Associates exit
- Successfully exited both equity and debt investments in portfolio company
Negative
- None.
News Market Reaction
On the day this news was published, GLAD gained 0.94%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
MCLEAN, VA / ACCESSWIRE / November 12, 2024 / Gladstone Capital Corporation (NASDAQ:GLAD) (the "Company") announced today that its board of directors declared the following additional supplemental cash distribution to common stockholders payable in December 2024.
Common Stock: A supplemental distribution of
Record Date | Payment Date | Cash Distribution |
December 4 | December 18 |
On November 4, 2024, the Company announced the sale of its equity interest and the prepayment of its debt investment in Antenna Research Associates, Inc. As a result of the transaction, the Company realized a significant gain on its equity investment.
"We are eager to reward our shareholders with this meaningful supplemental distribution from the realized capital gain generated on the equity portion of this successful exit," said Bob Marcotte, President of Gladstone Capital Corporation.
The Company offers a dividend reinvestment plan (the "DRIP") to its common stockholders. For more information regarding the DRIP, please visit www.gladstonecapital.com.
Gladstone Capital Corporation is a publicly traded business development company that invests in debt and equity securities consisting primarily of secured first and second lien term loans to lower middle market businesses in the United States. Information on the business activities of all the Gladstone funds can be found at www.gladstonecompanies.com.
Investor Relations Inquiries: Please visit www.gladstonecompanies.com or (703) 287-5893.
SOURCE: Gladstone Capital Corporation
View the original press release on accesswire.com
FAQ
When will Gladstone Capital (GLAD) pay its $0.40 supplemental distribution in 2024?
What caused GLAD to declare a supplemental distribution in December 2024?
What is the record date for GLAD's supplemental distribution in December 2024?
