Prospect Capital Co. (NASDAQ:PSEC) Announces Monthly Dividend of $0.06

Prospect Capital Co. (NASDAQ:PSECGet Free Report) announced a monthly dividend on Monday, May 13th, Wall Street Journal reports. Shareholders of record on Wednesday, August 28th will be given a dividend of 0.06 per share by the financial services provider on Thursday, September 19th. This represents a $0.72 dividend on an annualized basis and a yield of 13.16%. The ex-dividend date of this dividend is Wednesday, August 28th.

Prospect Capital has raised its dividend payment by an average of 13.6% annually over the last three years. Prospect Capital has a payout ratio of 98.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Prospect Capital to earn $0.72 per share next year, which means the company may not be able to cover its $0.72 annual dividend with an expected future payout ratio of 100.0%.

Prospect Capital Stock Performance

Shares of NASDAQ PSEC remained flat at $5.47 during mid-day trading on Monday. 1,248,509 shares of the stock were exchanged, compared to its average volume of 2,042,563. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.72 and a quick ratio of 0.72. Prospect Capital has a 1-year low of $5.03 and a 1-year high of $6.69. The stock has a fifty day simple moving average of $5.42 and a 200 day simple moving average of $5.67. The firm has a market capitalization of $2.29 billion, a PE ratio of 16.09 and a beta of 1.00.

Prospect Capital (NASDAQ:PSECGet Free Report) last issued its earnings results on Thursday, February 8th. The financial services provider reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.02. The company had revenue of $210.94 million for the quarter, compared to analyst estimates of $226.14 million. Prospect Capital had a return on equity of 13.32% and a net margin of 25.13%. On average, sell-side analysts anticipate that Prospect Capital will post 0.82 EPS for the current year.

Analyst Upgrades and Downgrades

PSEC has been the subject of a number of analyst reports. StockNews.com raised Prospect Capital from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. Wells Fargo & Company upped their target price on Prospect Capital from $5.50 to $5.75 and gave the stock an “underweight” rating in a research report on Monday, January 29th.

View Our Latest Stock Analysis on Prospect Capital

Insider Buying and Selling at Prospect Capital

In other Prospect Capital news, CFO Dask Kristin Lea Van acquired 5,000 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were acquired at an average cost of $5.44 per share, for a total transaction of $27,200.00. Following the completion of the purchase, the chief financial officer now owns 10,000 shares of the company’s stock, valued at approximately $54,400. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 26.69% of the company’s stock.

About Prospect Capital

(Get Free Report)

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.

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Dividend History for Prospect Capital (NASDAQ:PSEC)

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