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

Prospect Capital Co. (NASDAQ:PSEC) declared a dividend on Thursday, February 6th, NASDAQ Dividends reports. Stockholders of record on Wednesday, February 26th will be paid a dividend of 0.045 per share by the financial services provider on Thursday, March 20th. The ex-dividend date of this dividend is Wednesday, February 26th.

Prospect Capital has decreased its dividend by an average of 2.1% annually over the last three years. Prospect Capital has a payout ratio of 101.9% 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 Price Performance

Shares of PSEC opened at $4.44 on Monday. The business has a 50-day simple moving average of $4.31 and a two-hundred day simple moving average of $4.77. Prospect Capital has a 12-month low of $4.09 and a 12-month high of $5.86. The stock has a market cap of $1.97 billion, a PE ratio of -22.20 and a beta of 0.99. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.60.

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.

Insider Buying and Selling

In related news, COO M Grier Eliasek acquired 210,000 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were bought at an average cost 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 in the company, valued at $10,250,735.30. The trade was a 10.93 % increase in their ownership of the stock. The purchase 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 Prospect Capital stock in a transaction that occurred 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 acquisition, the chief executive officer now directly owns 79,477,549 shares of the company’s stock, valued at $340,958,685.21. The trade was a 2.58 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 2,215,000 shares of company stock valued at $9,613,700 over the last 90 days. 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.