Prospect Capital Co. (PSEC) to Issue Monthly Dividend of $0.05 on May 20th

Prospect Capital Co. (NASDAQ:PSEC) declared a monthly dividend on Wednesday, February 12th,Wall Street Journal reports. Shareholders of record on Monday, April 28th will be given 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 yield of 12.39%. The ex-dividend date is Monday, April 28th.

Prospect Capital has decreased its dividend by an average of 2.1% per year over the last three years. Prospect Capital has a payout ratio of 114.9% 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 Trading Up 0.2 %

Shares of NASDAQ PSEC opened at $4.36 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.48 and a current ratio of 0.48. Prospect Capital has a 52 week low of $4.09 and a 52 week high of $5.86. The stock’s fifty day moving average is $4.32 and its 200 day moving average is $4.81.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Prospect Capital from a “sell” rating to a “hold” rating in a research note on Friday, December 6th.

Insider Buying and Selling

In other Prospect Capital news, COO M Grier Eliasek bought 210,000 shares of the stock in a transaction on Friday, November 29th. The stock was acquired at an average cost of $4.81 per share, for a total transaction of $1,010,100.00. Following the completion of the acquisition, the chief operating officer now owns 2,131,130 shares in the company, valued at $10,250,735.30. This trade represents a 10.93 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CEO John F. Barry bought 2,000,000 shares of the stock in a transaction on Tuesday, December 24th. The stock was acquired at an average price of $4.29 per share, with a total value of $8,580,000.00. Following the completion of the acquisition, the chief executive officer now owns 79,477,549 shares of the company’s stock, valued at $340,958,685.21. This represents a 2.58 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 5,067,273 shares of company stock valued at $22,795,460 over the last ninety days. 27.10% of the stock is owned by company 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.