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

Prospect Capital Co. (NASDAQ:PSEC) declared a monthly dividend on Wednesday, February 12th,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 12.51%. The ex-dividend date of this dividend is Monday, April 28th.

Prospect Capital has decreased its dividend payment 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 0.6 %

NASDAQ:PSEC traded up $0.03 on Wednesday, hitting $4.32. The stock had a trading volume of 464,228 shares, compared to its average volume of 2,484,280. 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 52 week low of $4.09 and a 52 week high of $5.86. The business’s fifty day moving average is $4.33 and its 200 day moving average is $4.82. The company has a market cap of $1.88 billion, a PE ratio of -16.60 and a beta of 0.99.

Insiders Place Their Bets

In other news, CEO John F. Barry bought 205,900 shares of the company’s stock in a transaction on Friday, November 15th. The shares were purchased at an average price of $4.40 per share, with a total value of $905,960.00. Following the transaction, the chief executive officer now directly owns 72,612,839 shares in the company, valued at $319,496,491.60. This represents a 0.28 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO M Grier Eliasek bought 210,000 shares of Prospect Capital stock in a transaction dated Friday, November 29th. The stock was acquired at an average cost of $4.81 per share, with a total value of $1,010,100.00. Following the completion of the acquisition, the chief operating officer now owns 2,131,130 shares of the company’s stock, valued at $10,250,735.30. This represents a 10.93 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 5,273,173 shares of company stock valued at $23,701,420. Corporate insiders own 27.10% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.