Prospect Capital Corporation (NASDAQ:PSEC) Announces Monthly Dividend of $0.04

Prospect Capital Corporation (NASDAQ:PSEC) announced a monthly dividend on Thursday, May 7th. Investors of record on Wednesday, May 27th will be given a dividend of 0.035 per share by the financial services provider on Thursday, June 18th. This represents a c) dividend on an annualized basis and a yield of 15.3%. The ex-dividend date of this dividend is Wednesday, May 27th.

Prospect Capital has decreased its dividend by an average of 0.0%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 Down 1.1%

Prospect Capital stock opened at $2.75 on Friday. The stock has a market cap of $1.34 billion, a PE ratio of -3.40 and a beta of 0.82. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.74 and a current ratio of 0.74. Prospect Capital has a one year low of $2.45 and a one year high of $3.77. The stock has a fifty day moving average of $2.67 and a 200 day moving average of $2.70.

Prospect Capital (NASDAQ:PSEC) last posted its quarterly earnings data on Thursday, May 7th. The financial services provider reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.05. The company had revenue of $150.07 million during the quarter, compared to analysts’ expectations of $163.23 million. Prospect Capital had a positive return on equity of 11.91% and a negative net margin of 39.56%.

Insider Transactions at Prospect Capital

In related news, COO M Grier Eliasek purchased 942,800 shares of the business’s stock in a transaction on Wednesday, February 11th. The stock was acquired at an average price of $2.92 per share, with a total value of $2,752,976.00. Following the completion of the acquisition, the chief operating officer owned 3,443,930 shares of the company’s stock, valued at approximately $10,056,275.60. This trade represents a 37.69% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.03% of the company’s stock.

Institutional Trading of Prospect Capital

Several hedge funds have recently bought and sold shares of PSEC. Catalyst Financial Partners LLC bought a new stake in Prospect Capital during the fourth quarter valued at about $26,000. Bfsg LLC bought a new position in shares of Prospect Capital in the fourth quarter worth about $27,000. Navalign LLC bought a new position in shares of Prospect Capital in the third quarter worth about $28,000. Ground Swell Capital LLC bought a new position in shares of Prospect Capital in the fourth quarter worth about $28,000. Finally, Schonfeld Strategic Advisors LLC bought a new position in shares of Prospect Capital in the fourth quarter worth about $28,000. Institutional investors own 9.06% of the company’s stock.

About Prospect Capital

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.