Prepayment fees and equity distributions are supplementing income as SOFR declines; monitor upcoming quarters for sustainability of NII growth given falling yields. The maintained dividend of $0.45/sh ($1.80 annualized) yields ~5.6% at the current price, supporting a stable total return thesis.
Price Chart
Executive Summary
Gladstone Capital reported Q2 2026 net investment income of $0.52 per share, up 4.0% sequentially from $0.50, driven by higher prepayment fees and equity distributions. Total investment income rose 6.0% to $25.99M, and NAV per share increased to $21.36. The quarterly distribution was maintained at $0.45 per share.
Key Financial Metrics
Key Facts
- Net investment income per share: $0.52 (Q2 2026) vs $0.50 (Q1 2026)
- Total investment income: $25.99M, up 6.0% sequentially
- NAV per share: $21.36, up $0.23 from $21.13
- Quarterly distribution maintained at $0.45 per common share
- Weighted average yield on interest-bearing investments declined to 11.8% from 12.2%
- Invested $34.0M in three new portfolio companies and $9.6M in existing ones
Financial Impact
Net investment income $11.84M, up 5.1% sequentially
Risk Factors
- Continued decline in SOFR could compress portfolio yield further
- Prepayment fee income is volatile and may not recur at the same level
- Expense growth (management fee) is outpacing investment income growth
Market Snapshot
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-209037 |
| Document: d122338d8k.htm | 0001193125-26-209037 |
| Document: 0001193125-26-209037-index-headers.html | 0001193125-26-209037 |
| Document: 0001193125-26-209037-index.html | 0001193125-26-209037 |
| Document: 0001193125-26-209037.txt | 0001193125-26-209037 |
| 8-K Data (Synthetic) | 0001193125-26-209037 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 today | 8-K | $18.34 | awaiting T+20 | — | $18.33 (−0.05%) |
Jun 2, 2026 20w ago | 8-K | $19.47 $19.70 | ▲ +1.18% | ▲ +2.75% | $18.33 (−5.86%) |
May 6, 2026 24w ago | 8-K | $19.99 $18.92 | ▼ −5.35% | ▼ −8.49% | $18.33 (−8.30%) |
US Market Status
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