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

Prospect Capital Co. (NASDAQ:PSEC) announced a monthly dividend on Tuesday, February 11th,Wall Street Journal reports. Stockholders of record on Monday, April 28th will be paid a dividend of 0.045 per share by the financial services provider on Tuesday, May 20th. This represents a $0.54 annualized dividend and a dividend yield of 12.41%. The ex-dividend date is Monday, April 28th.

Prospect Capital has decreased its dividend by an average of 2.1% annually over the last three years. Prospect Capital has a dividend payout ratio of 114.9% meaning 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 PSEC stock opened at $4.35 on Thursday. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.65. Prospect Capital has a 1 year low of $4.09 and a 1 year high of $5.86. The stock has a fifty day moving average price of $4.32 and a 200 day moving average price of $4.82.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Prospect Capital from a “sell” rating to a “hold” rating in a research report on Friday, December 6th.

Insider Activity at Prospect Capital

In other Prospect Capital news, CEO John F. Barry acquired 2,000,000 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The shares were acquired at an average price of $4.29 per share, for a total transaction of $8,580,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 79,477,549 shares of the company’s stock, valued at $340,958,685.21. This trade represents a 2.58 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO M Grier Eliasek bought 210,000 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was acquired at an average price of $4.81 per share, with a total value of $1,010,100.00. Following the completion of the purchase, the chief operating officer now directly owns 2,131,130 shares of the company’s stock, valued at approximately $10,250,735.30. The trade was a 10.93 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders bought 5,273,173 shares of company stock valued at $23,701,420. 27.10% of the stock is owned by insiders.

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.