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

Prospect Capital Co. (NASDAQ:PSEC) announced a monthly dividend on Wednesday, August 28th, Zacks reports. Investors of record on Thursday, September 26th will be given a dividend of 0.06 per share by the financial services provider on Tuesday, October 22nd. This represents a $0.72 dividend on an annualized basis and a yield of 14.40%. The ex-dividend date is Thursday, September 26th.

Prospect Capital has increased its dividend payment by an average of 13.6% per year over the last three years. Prospect Capital has a dividend payout ratio of 107.5% 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 Down 0.4 %

PSEC stock opened at $5.00 on Friday. Prospect Capital has a twelve month low of $4.69 and a twelve month high of $6.30. The company has a market cap of $2.09 billion, a PE ratio of 14.71 and a beta of 1.01. The business’s 50-day simple moving average is $5.32 and its 200 day simple moving average is $5.44. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.66.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PSEC shares. StockNews.com raised Prospect Capital from a “sell” rating to a “hold” rating in a research report on Thursday, June 27th. Wells Fargo & Company decreased their target price on Prospect Capital from $5.50 to $5.00 and set an “underweight” rating on the stock in a research report on Thursday, May 16th.

Insiders Place Their Bets

In other Prospect Capital news, CFO Dask Kristin Lea Van purchased 3,330 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was purchased at an average price of $22.50 per share, for a total transaction of $74,925.00. Following the completion of the purchase, the chief financial officer now directly owns 4,539 shares in the company, valued at $102,127.50. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 26.69% of the company’s stock.

Prospect Capital Company Profile

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.