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

Prospect Capital Co. (NASDAQ:PSEC) declared a monthly dividend on Tuesday, November 5th,Zacks Dividends reports. Investors 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 payment by an average of 13.6% annually 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 fall.

Prospect Capital Stock Performance

Shares of NASDAQ PSEC opened at $4.83 on Monday. The company’s 50 day moving average price is $5.10 and its 200-day moving average price is $5.30. 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 has a 52-week low of $4.15 and a 52-week high of $6.30.

Prospect Capital (NASDAQ:PSEC) last announced its earnings results on Friday, November 8th. The financial services provider reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates 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 Transactions at Prospect Capital

In other news, CEO John F. Barry purchased 837,273 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were acquired at an average cost of $4.47 per share, with a total value of $3,742,610.31. Following the purchase, the chief executive officer now owns 73,450,112 shares in the company, valued at $328,322,000.64. This represents a 1.15 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have purchased 2,053,173 shares of company stock valued at $9,284,120 in the last 90 days. 27.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in 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 report on Friday, August 30th. StockNews.com lowered shares of Prospect Capital from a “hold” rating to a “sell” rating in a research note on Friday, August 30th.

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.