Gladstone Investment 6.375% Series E Cumulative Term Preferred Stock due 2025
By: Tim McPartland,
Date Issued 8/13/2018
Shares Offered 2,600,000 Overallotment Shares 390,000
S&P Rating NR Moodys Rating NR
Security Ticker Symbol GAINL OTC Ticker GLDZP
Market Traded ON NASDAQ
Dividend Payment Paid on the last day of the month beginning on 9/30/2018
Monthly Dividend .133 Annual Dividend 1.594
Securities may be redeemed, at the issuers option, as early as 08/31/2021 the call price is $25 plus accrued dividends.
Dividend Payment Will NOT BE Qualified Distributions. Preferred stock dividends of business development companies (BDC’s) are not eligible for the qualified tax rate. Because the BDC generally pays no federal taxes (if they follow the rules) there is no incremental tax breaks for the individual holders.
Maturity Date (Mandatory Redemption Date) 8/31/2025