Prospect Capital Corporation (PSEC) to Distribute Monthly Dividend of $0.04 on November 18th

Prospect Capital Corporation (NASDAQ:PSECGet Free Report) declared a monthly dividend on Thursday, August 20th. Stockholders of record on Wednesday, October 28th will be given a dividend of 0.035 per share by the financial services provider on Wednesday, November 18th. This represents a c) dividend on an annualized basis and a dividend yield of 18.0%. The ex-dividend date of this dividend is Wednesday, October 28th.

Prospect Capital has decreased its dividend payment by an average of 0.0%annually over the last three years. Prospect Capital has a payout ratio of 89.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble.

Prospect Capital Trading Up 2.2%

Prospect Capital stock opened at $2.33 on Friday. Prospect Capital has a 1 year low of $2.11 and a 1 year high of $3.13. The firm’s 50-day moving average is $2.24 and its 200-day moving average is $2.47. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.79 and a current ratio of 0.79. The company has a market cap of $1.17 billion, a P/E ratio of 46.60 and a beta of 0.79.

Prospect Capital (NASDAQ:PSECGet Free Report) last announced its quarterly earnings data on Thursday, August 20th. The financial services provider reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. The business had revenue of $155.76 million during the quarter, compared to the consensus estimate of $149.80 million. Prospect Capital had a net margin of 19.33% and a return on equity of 12.11%.

Insider Activity at Prospect Capital

In other news, CEO John F. Barry acquired 1,067,648 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were acquired at an average price of $2.27 per share, with a total value of $2,423,560.96. Following the acquisition, the chief executive officer directly owned 89,213,725 shares in the company, valued at approximately $202,515,155.75. The trade was a 1.21% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have bought a total of 2,500,648 shares of company stock worth $5,678,121 in the last three months. 0.03% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Catalyst Financial Partners LLC acquired a new stake in shares of Prospect Capital in the fourth quarter valued at approximately $26,000. Ground Swell Capital LLC acquired a new position in shares of Prospect Capital during the fourth quarter worth approximately $28,000. Schonfeld Strategic Advisors LLC bought a new position in Prospect Capital in the 4th quarter worth approximately $28,000. Evergreen Capital Management LLC acquired a new stake in Prospect Capital in the 4th quarter valued at approximately $30,000. Finally, Foundations Investment Advisors LLC acquired a new position in Prospect Capital during the 4th quarter worth $31,000. Institutional investors own 9.06% of the company’s stock.

Prospect Capital Company Profile

(Get Free Report)

Prospect Capital Corporation is a publicly traded business development company listed on the Nasdaq stock exchange that specializes in providing private debt and equity financing solutions to middle-market companies across the United States. Structured as a closed-end, non-diversified management investment company under the Investment Company Act of 1940, Prospect Capital offers investors access to a diversified portfolio of senior secured loans, subordinated debt and selective equity interests in privately held businesses.

Since its founding in 2004, Prospect Capital has focused on tailoring financing structures to meet the growth, acquisition and recapitalization needs of its portfolio companies.

See Also

Dividend History for Prospect Capital (NASDAQ:PSEC)

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