Gladstone Investment Announces $0.70 Supplemental Distribution to Common Stockholders
Gladstone Investment (Nasdaq:GAIN) has announced a $0.70 supplemental distribution to common stockholders, payable on October 14, 2024, to shareholders of record on October 4, 2024. This distribution follows the company's successful exit from its investment in Nth Degree, Inc., which resulted in a realized gain of $42.3 million and the repayment of a $25.0 million debt investment at par in September 2024.
President David Dullum emphasized that this supplemental distribution demonstrates the strength of Gladstone's buyout strategy and its ability to reward shareholders with significant distributions from realized capital gains. The company's board of directors is scheduled to meet on October 8th to declare monthly distributions for the last quarter of 2024.
Gladstone Investment (Nasdaq:GAIN) ha annunciato una distribuzione supplementare di $0,70 per gli azionisti comuni, che sarà pagata il 14 ottobre 2024, agli azionisti registrati il 4 ottobre 2024. Questa distribuzione segue il successo dell'uscita dell'azienda dal suo investimento in Nth Degree, Inc., che ha comportato un guadagno realizzato di 42,3 milioni di dollari e il rimborso di un investimento in debito di 25,0 milioni di dollari al valore nominale nel settembre 2024.
Il presidente David Dullum ha sottolineato che questa distribuzione supplementare dimostra la forza della strategia di buyout di Gladstone e la sua capacità di premiare gli azionisti con distribuzioni significative da guadagni in conto capitale realizzati. Il consiglio di amministrazione dell'azienda è programmato per incontrarsi l'8 ottobre per dichiarare le distribuzioni mensili per l'ultimo trimestre del 2024.
Gladstone Investment (Nasdaq:GAIN) ha anunciado una distribución suplementaria de $0.70 a los accionistas comunes, que se pagará el 14 de octubre de 2024, a los accionistas registrados el 4 de octubre de 2024. Esta distribución sigue a la salida exitosa de la empresa de su inversión en Nth Degree, Inc., que resultó en una ganancia realizada de $42.3 millones y el reembolso de un inversión de deuda de $25.0 millones al valor nominal en septiembre de 2024.
El presidente David Dullum enfatizó que esta distribución suplementaria demuestra la fortaleza de la estrategia de compra de Gladstone y su capacidad para recompensar a los accionistas con distribuciones significativas de ganancias de capital realizadas. La junta directiva de la empresa tiene programada una reunión el 8 de octubre para declarar distribuciones mensuales para el último trimestre de 2024.
글래드스톤 투자(나스닥: GAIN)는 보통주 주주에게 $0.70의 추가 배당금을 발표했으며, 이는 2024년 10월 14일에 지급되고, 2024년 10월 4일 기준으로 주주에게 지급됩니다. 이 배당금은 Nth Degree, Inc.에 대한 투자에서 성공적인 출구를 따른 것이며, 이는
대표인 다비드 둘럼은 이 추가 배당금이 글래드스톤의 인수 전략의 강점을 보여주며, 실현된 자본 이익으로부터 주주에게 중요한 배당금을 보상할 수 있는 능력을 입증한다고 강조했습니다. 회사의 이사회는 2024년 마지막 분기의 월별 배당금을 선언하기 위해 10월 8일에 회의할 예정입니다.
Gladstone Investment (Nasdaq:GAIN) a annoncé une distribution supplémentaire de 0,70 $ aux actionnaires ordinaires, payable le 14 octobre 2024, aux actionnaires enregistrés le 4 octobre 2024. Cette distribution fait suite à la sortie réussie de l'entreprise de son investissement dans Nth Degree, Inc., qui a entraîné un gain réalisé de 42,3 millions $ et le remboursement d'un investissement de dette de 25,0 millions $ au pair en septembre 2024.
Le président David Dullum a souligné que cette distribution supplémentaire démontre la force de la stratégie de rachat de Gladstone et sa capacité à récompenser les actionnaires par des distributions significatives de gains en capital réalisés. Le conseil d'administration de l'entreprise doit se réunir le 8 octobre pour déclarer les distributions mensuelles pour le dernier trimestre de 2024.
Gladstone Investment (Nasdaq:GAIN) hat eine zusätzliche Ausschüttung von 0,70 $ an die Stammaktionäre angekündigt, die am 14. Oktober 2024 ausgezahlt wird, an Aktionäre, die am 4. Oktober 2024 im Aktienregister stehen. Diese Ausschüttung folgt auf den erfolgreichen Exit des Unternehmens aus seiner Investition in Nth Degree, Inc., was zu einem realisierten Gewinn von 42,3 Millionen $ und der Rückzahlung einer Schuldinvestition von 25,0 Millionen $ zum Nennwert im September 2024 führte.
Präsident David Dullum betonte, dass diese zusätzliche Ausschüttung die Stärke der Übernahme-Strategie von Gladstone und die Fähigkeit des Unternehmens zeigt, Aktionäre mit erheblichen Ausschüttungen aus realisierten Kapitalgewinnen zu belohnen. Der Vorstand des Unternehmens wird am 8. Oktober zusammentreffen, um die monatlichen Ausschüttungen für das letzte Quartal 2024 zu beschließen.
- Announced a $0.70 supplemental distribution to common stockholders
- Realized a gain of $42.3 million from exiting investment in Nth Degree, Inc.
- Received repayment of $25.0 million debt investment at par
- Demonstrated success of buyout strategy in generating capital gains
- None.
Insights
This $0.70 supplemental distribution is a significant windfall for GAIN shareholders, representing a
The repayment of the
The upcoming board meeting to declare monthly distributions for Q4 2024 will be important to watch, as it may provide insights into the company's outlook and dividend sustainability.
GAIN's supplemental distribution demonstrates the potential upside of its business model. By taking equity stakes in its portfolio companies, GAIN can capture significant gains upon successful exits, as seen with Nth Degree. This strategy differentiates GAIN from traditional BDCs that focus solely on debt investments.
However, investors should be cautious about extrapolating this success to future performance. The private equity market is cyclical and exit opportunities may become scarcer in less favorable economic conditions. It's important to assess GAIN's overall portfolio health and pipeline of potential exits.
The
MCLEAN, VA / ACCESSWIRE / September 17, 2024 / Gladstone Investment Corporation (Nasdaq:GAIN) (the "Company") announced today that its board of directors declared the following additional supplemental cash distribution to common stockholders in October 2024.
Common Stock: A supplemental distribution of
Record Date | Payment Date | Cash Distribution |
October 4, 2024 | October 14, 2024 |
In September 2024, the Company exited its investment in Nth Degree, Inc., which resulted in a realized gain of
"This supplemental distribution highlights the strength of our buyout strategy and its ability to reward our shareholders with meaningful supplemental distributions from the realized capital gains generated on the equity portion of our successful exits," said David Dullum, President of Gladstone Investment.
The Company's board of directors is also scheduled to conduct its next quarterly board meeting on October 8th, where they plan to declare monthly distributions for October, November, and December of 2024.
The Company offers a dividend reinvestment plan (the "DRIP") to its common stockholders. For more information regarding the DRIP, please visit www.gladstoneinvestment.com.
About Gladstone Investment Corporation: Gladstone Investment Corporation is a publicly traded business development company that seeks to make secured 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.
Investor Relations Inquiries: Please visit www.gladstonecompanies.com or (703) 287-5893.
Forward-looking Statements:
The statements in this press release regarding potential future distributions, earnings and operations of the Company are "forward-looking statements." These forward-looking statements inherently involve certain risks and uncertainties in predicting future results and conditions. Although these statements are based on the Company's current plans that are believed to be reasonable as of the date of this press release, a number of factors could cause actual results and conditions to differ materially from these forward-looking statements, including those factors described from time to time in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect any future events or otherwise, except as required by law.
SOURCE: Gladstone Investment Corporation
View the original press release on accesswire.com
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