Prospect Capital Co. (NASDAQ:PSEC) Announces Monthly Dividend of $0.05

Prospect Capital Co. (NASDAQ:PSEC) announced a monthly dividend on Tuesday, November 5th,Zacks Dividends reports. Investors of record on Tuesday, November 26th will be given a dividend of 0.045 per share by the financial services provider on Thursday, December 19th. This represents a $0.54 annualized dividend and a yield of 11.18%. The ex-dividend date of this dividend is Tuesday, November 26th.

Prospect Capital has increased its dividend payment by an average of 13.6% annually over the last three years. Prospect Capital has a payout ratio of 100.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble.

Prospect Capital Price Performance

Shares of PSEC stock opened at $4.83 on Friday. The firm has a fifty day moving average of $5.10 and a two-hundred day moving average of $5.30. The firm has a market cap of $2.11 billion, a P/E ratio of -18.58 and a beta of 1.00. Prospect Capital has a 1-year low of $4.15 and a 1-year high of $6.30. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.48 and a quick ratio of 0.48.

Prospect Capital (NASDAQ:PSEC) last issued its quarterly earnings results on Friday, November 8th. The financial services provider reported $0.21 EPS for the quarter, topping the consensus estimate of $0.17 by $0.04. The business had revenue of $196.31 million for the quarter. Prospect Capital had a negative net margin of 2.23% and a positive return on equity of 12.19%.

Insider Activity at Prospect Capital

In related news, CEO John F. Barry purchased 205,900 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were acquired at an average price of $4.40 per share, with a total value of $905,960.00. Following the acquisition, the chief executive officer now owns 72,612,839 shares in the company, valued at approximately $319,496,491.60. This trade represents a 0.28 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders acquired a total of 2,053,173 shares of company stock valued at $9,284,120 in the last quarter. Insiders own 27.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company lowered their price target on Prospect Capital from $5.00 to $4.50 and set an “underweight” rating for the company in a report on Friday, August 30th. StockNews.com downgraded shares of Prospect Capital from a “hold” rating to a “sell” rating in a report 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.