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

Prospect Capital Co. (NASDAQ:PSEC) announced 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 dividend on an annualized basis and a yield of 12.41%. The ex-dividend date of this dividend 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 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 Performance

Shares of PSEC opened at $4.35 on Thursday. The company has a current ratio of 0.48, a quick 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 company has a 50-day simple moving average of $4.32 and a 200-day simple moving average of $4.82.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Prospect Capital news, CEO John F. Barry bought 2,000,000 shares of the business’s stock in a transaction on Tuesday, December 24th. The stock was bought at an average price of $4.29 per share, for a total transaction of $8,580,000.00. Following the completion of the transaction, the chief executive officer now owns 79,477,549 shares in the company, valued at approximately $340,958,685.21. The trade was a 2.58 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO M Grier Eliasek purchased 210,000 shares of the stock in a transaction dated Friday, November 29th. The stock was acquired at an average price of $4.81 per share, for a total transaction of $1,010,100.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 5,273,173 shares of company stock worth $23,701,420. 27.10% of the stock is owned by corporate 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.