Gladstone Investment Increases Monthly Cash Distributions to Common Stockholders and Announces Monthly Cash Distributions, in...
October 10 2017 - 4:03PM
Gladstone Investment Corporation (NASDAQ:GAIN) (the “Company”)
announced today that its board of directors declared the following
monthly cash distributions to preferred and common stockholders,
increasing distributions to common stockholders by more than 1%.
The Company also announced it will pay a supplemental
distribution of $0.06 per share to holders of its common stock in
December 2017. In this regard, the Company anticipates continuing
to pay semi-annual, supplemental distributions each fiscal year.
These payments are generally expected to be primarily made from
undistributed net capital gains, but may also be made from
undistributed net investment income, which the Company anticipates
it will continue to generate in the future. The Company’s
board of directors will evaluate the amount and timing of
additional, semi-annual, supplemental distributions in future
periods. The Company also announced its plan to report
earnings for the second fiscal quarter ended September 30, 2017.
Common Stock: $0.065 per share of common stock
for each of October, November and December 2017, payable per the
table below. The Company has paid 147 consecutive monthly cash
distributions on its common stock.
Record Date |
Payment Date |
Cash Distribution |
October 20 |
October 31 |
$0.065 |
November 20 |
November 30 |
$0.065 |
December 5 |
December 15 |
$0.06* |
December 19 |
December 29 |
$0.065 |
Total for the Quarter: |
$0.255 |
|
|
* Denotes supplemental distribution to common stockholders.
Series B Term Preferred Stock: $0.140625 per
share of the Company’s 6.75% Series B Cumulative Term Preferred
Stock (“Series B Term Preferred Stock”) for each of October,
November and December 2017, payable per the table below. The Series
B Term Preferred Stock trades on the NASDAQ under the symbol
“GAINO.”
Record Date |
Payment Date |
Cash Distribution |
October 20 |
October 31 |
$0.140625 |
November 20 |
November 30 |
$0.140625 |
December 19 |
December 29 |
$0.140625 |
Total for the Quarter: |
$0.421875 |
|
|
Series C Term Preferred Stock: $0.135417 per
share of the Company’s 6.50% Series C Cumulative Term Preferred
Stock (“Series C Term Preferred Stock”) for each of October,
November and December 2017, payable per the table below. The Series
C Term Preferred Stock trades on the NASDAQ under the symbol
“GAINN.”
Record Date |
Payment Date |
Cash Distribution |
October 20 |
October 31 |
$0.135417 |
November 20 |
November 30 |
$0.135417 |
December 19 |
December 29 |
$0.135417 |
Total for the Quarter: |
$0.406251 |
|
|
Series D Term Preferred Stock: $0.13020833 per
share of the Company’s 6.25% Series D Cumulative Term Preferred
Stock (“Series D Term Preferred Stock”) for each of October,
November and December 2017, payable per the table below. The Series
D Term Preferred Stock trades on the NASDAQ under the symbol
“GAINM.”
Record Date |
Payment Date |
Cash Distribution |
October 20 |
October 31 |
$0.13020833 |
November 20 |
November 30 |
$0.13020833 |
December 19 |
December 29 |
$0.13020833 |
Total for the Quarter: |
$0.39062499 |
|
|
The Company offers a dividend reinvestment plan
(the “DRIP”) to its common stockholders. For more information
regarding the DRIP, please visit www.gladstoneinvestment.com.
Earnings Announcement:
The Company also announced today that it plans to report
earnings after the stock market closes on Wednesday, November 1,
2017, for the second quarter ended September 30, 2017. The Company
will hold a conference call on Thursday, November 2, 2017 at 8:30
a.m. EDT to discuss its earnings results. Please call (855)
376-7516 to enter the conference call. An operator will
monitor the call and set a queue for questions.
A conference call replay will be available beginning one hour
after the call and will be accessible through December 2, 2017. To
hear the replay, please dial (855) 859-2056 and use playback
conference number 54419498.
The live audio broadcast of the Company’s conference call will
be available online at www.gladstoneinvestment.com. The event will
also be archived and available for replay on the Company’s website
through January 2, 2018.
Gladstone Investment Corporation is a publicly traded business
development company that seeks to make debt and equity investments
in lower middle market businesses in the United States in
connection with acquisitions, changes in control and
recapitalizations. Information on the business activities of all
the Gladstone funds can be found at www.gladstonecompanies.com.
For Investor Relations inquiries related to any of the monthly
dividend paying Gladstone funds, please visit
www.gladstone.com.
For further information: Gladstone Investment Corporation,
+1-703-287-5893
Gladstone Investment (NASDAQ:GAIN)
Historical Stock Chart
From Apr 2024 to May 2024
Gladstone Investment (NASDAQ:GAIN)
Historical Stock Chart
From May 2023 to May 2024