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Gladstone Capital Corporation reports developments for a publicly traded business development company that invests in debt and equity securities of lower middle market businesses in the United States. Its recurring news centers on quarterly and annual results, portfolio activity, net asset value, investment income, secured first and second lien term loans, and limited equity exposure within its investment portfolio.
Company updates also cover monthly cash distributions on common stock and 6.25% Series A Cumulative Redeemable Preferred Stock, earnings-call schedules, financing activity, and governance matters such as executive succession and board-related announcements.
Gladstone Capital Corporation (Nasdaq: GLAD) reported Q3 earnings for the fiscal quarter ending June 30, 2020. Total investment income rose to $11.7 million, up 2.1% from the previous quarter. However, net investment income fell by 7.1% to $6.1 million. The company showed strong portfolio performance with no payment defaults, while net unrealized appreciation surged by $9 million. Net asset value increased by 4.0% to $7.27 per share. Despite a 14.2% rise in total expenses, the firm maintained a conservative debt-to-equity ratio of 101.8% and extended its credit facility. Distributions remain unchanged at $0.195 per share.
Gladstone Capital Corporation (GLAD) announced its upcoming earnings call for the third quarter ended June 30, 2020. The call is scheduled for July 30, 2020, at 8:30 a.m. EDT and will be available via webcast and phone. A replay of the call will be accessible until August 6, 2020. Gladstone Capital focuses on investing in secured loans primarily for lower middle-market businesses in the U.S. More information on the company and their funds can be found on their official website.
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