Prospect Capital Co. (PSEC) To Go Ex-Dividend on December 27th

Prospect Capital Co. (NASDAQ:PSEC) declared a monthly dividend on Tuesday, November 12th,Wall Street Journal reports. Investors of record on Friday, December 27th will be paid a dividend of 0.045 per share by the financial services provider on Wednesday, January 22nd. This represents a $0.54 dividend on an annualized basis and a yield of 12.62%. The ex-dividend date of this dividend is Friday, December 27th.

Prospect Capital has increased its dividend payment by an average of 13.6% annually over the last three years. Prospect Capital has a dividend payout ratio of 118.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Prospect Capital Price Performance

PSEC stock opened at $4.28 on Thursday. The firm has a 50-day moving average of $5.21 and a two-hundred day moving average of $5.33. The firm has a market capitalization of $1.87 billion, a PE ratio of -16.46 and a beta of 1.00. The company has a current ratio of 0.48, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. Prospect Capital has a one year low of $4.15 and a one year high of $6.30.

Prospect Capital (NASDAQ:PSEC) last released its earnings results on Friday, November 8th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. Prospect Capital had a positive return on equity of 12.19% and a negative net margin of 2.23%. The company had revenue of $196.31 million during the quarter.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PSEC shares. Wells Fargo & Company reduced their price objective on Prospect Capital from $5.00 to $4.50 and set an “underweight” rating for the company in a research report on Friday, August 30th. StockNews.com cut Prospect Capital from a “hold” rating to a “sell” rating in a research note on Friday, August 30th.

About Prospect Capital

Prospect Capital Corporation is a business development company. It specializes in middle market, mature, mezzanine finance, later stage, emerging growth, leveraged buyouts, refinancing, acquisitions, recapitalizations, turnaround, growth capital, development, capital expenditures and subordinated debt tranches of collateralized loan obligations, cash flow term loans, market place lending and bridge transactions.