Prospect Capital Co. (NASDAQ:PSEC) Announces Monthly Dividend of $0.06

Prospect Capital Co. (NASDAQ:PSEC - Get Free Report) declared a monthly dividend on Friday, May 10th, Wall Street Journal reports. Shareholders of record on Wednesday, June 26th will be given a dividend of 0.06 per share by the financial services provider on Thursday, July 18th. This represents a $0.72 annualized dividend and a dividend yield of 13.16%. The ex-dividend date of this dividend is Wednesday, June 26th.

Prospect Capital has increased its dividend payment by an average of 13.6% per year over the last three years. Prospect Capital has a dividend payout ratio of 98.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings decline. Equities research analysts expect Prospect Capital to earn $0.72 per share next year, which means the company may not be able to cover its $0.72 annual dividend with an expected future payout ratio of 100.0%.

Prospect Capital Stock Performance

NASDAQ PSEC traded up $0.02 on Friday, hitting $5.47. 2,470,511 shares of the stock were exchanged, compared to its average volume of 1,623,062. The business's fifty day moving average is $5.42 and its 200 day moving average is $5.67. Prospect Capital has a 52 week low of $5.03 and a 52 week high of $6.69. The company has a market capitalization of $2.27 billion, a PE ratio of -27.35 and a beta of 1.00. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.07 and a quick ratio of 1.07.

Prospect Capital (NASDAQ:PSEC - Get Free Report) last posted its earnings results on Thursday, February 8th. The financial services provider reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.02. The business had revenue of $210.94 million for the quarter, compared to analyst estimates of $226.14 million. Prospect Capital had a positive return on equity of 13.48% and a negative net margin of 1.47%. Research analysts anticipate that Prospect Capital will post 0.82 EPS for the current fiscal year.

Insider Transactions at Prospect Capital

In related news, CFO Dask Kristin Lea Van bought 5,000 shares of Prospect Capital stock in a transaction on Monday, March 11th. The stock was acquired at an average price of $5.44 per share, with a total value of $27,200.00. Following the acquisition, the chief financial officer now directly owns 10,000 shares of the company's stock, valued at $54,400. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 26.69% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently commented on PSEC. Wells Fargo & Company boosted their target price on shares of Prospect Capital from $5.50 to $5.75 and gave the company an "underweight" rating in a research report on Monday, January 29th. StockNews.com raised shares of Prospect Capital from a "sell" rating to a "hold" rating in a research report on Friday, April 26th.

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.