Sakorn Sukkasemsakorn
Gladstone Capital (NASDAQ:GLAD) stock edged 2% higher after hours on Monday as the company’s Q1 results were broadly in line with expectations.
Q1 net investment income per share was $0.25 vs. $0.22 in Q2 and $0.27 in the year-ago period.
Total investment income grew 19.3% Y/Y (+21% sequentially) to $19.29M on higher interest income, driven by increased weighted average yield and weighted average principal balance of interest-bearing investments.
Net asset value per share stood at $9.06 vs. $9.08 at September 30 and $9.44 at December 31, 2021.
Debt-to-equity ratio declined to 97.2% at Q1-end and 65% of Gladstone’s (GLAD) debt was at fixed rates.
“Last quarter’s successful realizations and share issuance bolstered our capital base and positioned us well to capitalize on continuing demand for private capital,” said Bob Marcotte, president, Gladstone (GLAD).
“However, continued focus on portfolio performance, and maintaining conservative leverage metrics and underwriting discipline, will be a priority to sustain this earnings momentum and support potential increases to the common distribution rate in the coming quarters,” Marcotte added.
Earlier, Gladstone (GLAD) raised its monthly dividend by 7.1% to $0.075.
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