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

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 of this dividend is Tuesday, November 26th.

Prospect Capital has increased its dividend by an average of 13.6% per year 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 decline.

Prospect Capital Stock Up 3.9 %

Shares of NASDAQ PSEC opened at $4.83 on Friday. The stock has a market capitalization of $2.11 billion, a P/E ratio of -18.58 and a beta of 1.00. The stock’s fifty day moving average is $5.10 and its 200 day moving average is $5.30. Prospect Capital has a 52 week low of $4.15 and a 52 week high of $6.30. 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 (NASDAQ:PSEC) last announced 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 business had revenue of $196.31 million during the quarter.

Insider Buying and Selling at Prospect Capital

In other news, CEO John F. Barry acquired 1,000,000 shares of the stock in a transaction dated Wednesday, November 20th. The stock was bought at an average price of $4.59 per share, with a total value of $4,590,000.00. Following the completion of the purchase, the chief executive officer now directly owns 75,465,285 shares of the company’s stock, valued at $346,385,658.15. This represents a 1.34 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders bought 2,053,173 shares of company stock worth $9,284,120. 27.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Wells Fargo & Company lowered their target price on Prospect Capital from $5.00 to $4.50 and set an “underweight” rating for the company in a research note on Friday, August 30th. StockNews.com downgraded shares of Prospect Capital from a “hold” rating to a “sell” rating in a research note on Friday, August 30th.

Prospect Capital Company Profile

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.