On 7/17/13, Gladstone Investment Corp’s 7.125% Series A Cumulative Term Preferred Stock (NASD: GAINP) will trade ex-dividend, for its monthly dividend of $0.1484, payable on 7/31/13. As a percentage of GAINP’s recent share price of $26.28, this dividend works out to approximately 0.56%, so look for shares of GAINP to trade 0.56% lower ? all else being equal ? when GAINP shares open for trading on 7/17/13. On an annualized basis, the current yield is approximately 6.82%, which compares to an average yield of 5.13% in the “Financial” preferred stock category, according to Preferred Stock Channel.
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Source: FULL ARTICLE at Forbes Markets
