Prospect Capital Co. (NASDAQ:PSEC) to Issue $0.05 Monthly Dividend

Prospect Capital Co. (NASDAQ:PSEC) declared a monthly dividend on Wednesday, November 13th,Wall Street Journal reports. Investors of record on Wednesday, January 29th will be given a dividend of 0.045 per share by the financial services provider on Wednesday, February 19th. This represents a $0.54 dividend on an annualized basis and a yield of 12.44%. The ex-dividend date is Wednesday, January 29th.

Prospect Capital has raised its dividend by an average of 13.6% per year 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 Stock Up 1.4 %

Shares of NASDAQ:PSEC traded up $0.06 during trading on Thursday, hitting $4.34. The stock had a trading volume of 902,895 shares, compared to its average volume of 2,305,131. The company has a quick ratio of 0.93, a current ratio of 0.48 and a debt-to-equity ratio of 0.65. Prospect Capital has a 12 month low of $4.15 and a 12 month high of $6.30. The company has a market capitalization of $1.89 billion, a PE ratio of -16.62 and a beta of 1.00. The firm’s fifty day moving average is $5.21 and its 200 day moving average is $5.33.

Prospect Capital (NASDAQ:PSEC) last announced its quarterly earnings data on Friday, November 8th. The financial services provider reported $0.21 EPS for the quarter, beating the consensus estimate 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 business had revenue of $196.31 million during the quarter.

Analyst Upgrades and Downgrades

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