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

Prospect Capital Co. (NASDAQ:PSEC - Get Free Report) announced a monthly dividend on Monday, May 13th, Wall Street Journal reports. Stockholders of record on Wednesday, August 28th will be given a dividend of 0.06 per share by the financial services provider on Thursday, September 19th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 13.16%. The ex-dividend date is Wednesday, August 28th.

Prospect Capital has increased its dividend by an average of 13.6% annually 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 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 remained flat at $5.47 on Monday. The company's stock had a trading volume of 1,250,409 shares, compared to its average volume of 2,044,537. The business has a fifty day moving average of $5.42 and a two-hundred day moving average of $5.67. The stock has a market capitalization of $2.29 billion, a PE ratio of 16.09 and a beta of 1.00. Prospect Capital has a 12 month low of $5.03 and a 12 month high of $6.69. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.72 and a current ratio of 0.72.

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, beating the consensus estimate of $0.22 by $0.02. Prospect Capital had a net margin of 25.13% and a return on equity of 13.32%. The business had revenue of $210.94 million for the quarter, compared to analyst estimates of $226.14 million. As a group, analysts predict that Prospect Capital will post 0.82 earnings per share for the current year.

Insider Activity at Prospect Capital

In other Prospect Capital news, CFO Dask Kristin Lea Van acquired 5,000 shares of the company's stock in a transaction on Monday, March 11th. The shares were bought at an average cost of $5.44 per share, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 26.69% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

Prospect Capital Company Profile

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.