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

Prospect Capital Corporation (NASDAQ:PSEC) announced a monthly dividend on Thursday, August 20th. Shareholders of record on Monday, September 28th will be given a dividend of 0.035 per share by the financial services provider on Wednesday, October 21st. This represents a c) annualized dividend and a yield of 18.4%. The ex-dividend date of this dividend is Monday, September 28th.

Prospect Capital has decreased its dividend 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 fall.

Prospect Capital Stock Up 1.3%

Shares of NASDAQ:PSEC opened at $2.28 on Friday. The stock’s 50-day moving average price is $2.24 and its 200-day moving average price is $2.47. Prospect Capital has a 12-month low of $2.11 and a 12-month high of $3.13. The stock has a market capitalization of $1.14 billion, a P/E ratio of -6.16 and a beta of 0.79. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.59.

Prospect Capital (NASDAQ:PSEC) last released its earnings results 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 company had revenue of $155.76 million during the quarter, compared to analyst estimates of $149.80 million. Prospect Capital had a positive return on equity of 12.03% and a negative net margin of 10.42%.

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.