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

Prospect Capital Co. (NASDAQ:PSEC) declared a monthly dividend on Tuesday, November 5th,Zacks Dividends reports. Shareholders 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 annualized dividend and a yield of 11.18%. The ex-dividend date is Tuesday, November 26th.

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 100.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble.

Prospect Capital Trading Up 3.9 %

Shares of PSEC stock opened at $4.83 on Monday. 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 firm has a 50-day moving average of $5.10 and a 200-day moving average of $5.30. Prospect Capital has a one year low of $4.15 and a one year high of $6.30.

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PSEC shares. Wells Fargo & Company cut their price objective on Prospect Capital from $5.00 to $4.50 and set an “underweight” rating on the stock in a research 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 Activity

In other news, CEO John F. Barry bought 1,000,000 shares of the stock in a transaction on Wednesday, November 20th. The shares were purchased at an average cost of $4.59 per share, for a total transaction of $4,590,000.00. Following the completion of the purchase, the chief executive officer now directly owns 75,465,285 shares in the company, valued at $346,385,658.15. This represents a 1.34 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders purchased 2,053,173 shares of company stock valued at $9,284,120 in the last three months. Company insiders own 27.10% of the company’s stock.

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.