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

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

Prospect Capital has raised its dividend by an average of 13.6% per year over the last three years. Prospect Capital has a payout ratio of 100.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall.

Prospect Capital Price Performance

Shares of PSEC opened at $4.83 on Friday. The company has a market cap of $2.11 billion, a price-to-earnings ratio of -18.58 and a beta of 1.00. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.65. The company’s fifty day simple moving average is $5.10 and its 200 day simple moving average is $5.30. Prospect Capital has a 1-year low of $4.15 and a 1-year high of $6.30.

Prospect Capital (NASDAQ:PSEC) last issued 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 negative net margin of 2.23% and a positive return on equity of 12.19%. The company had revenue of $196.31 million for the quarter.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PSEC. Wells Fargo & Company decreased their target price on Prospect Capital from $5.00 to $4.50 and set an “underweight” rating on the stock 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.

Insider Transactions at Prospect Capital

In other news, CEO John F. Barry acquired 205,900 shares of the stock in a transaction on Friday, November 15th. The shares were purchased at an average price of $4.40 per share, for a total transaction of $905,960.00. Following the transaction, the chief executive officer now directly owns 72,612,839 shares of the company’s stock, valued at approximately $319,496,491.60. This represents a 0.28 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders bought a total of 2,053,173 shares of company stock worth $9,284,120 over the last quarter. Company insiders own 27.10% 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.