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

Prospect Capital Co. (NASDAQ:PSEC) announced a monthly dividend on Friday, February 9th, Wall Street Journal reports. Stockholders of record on Friday, March 30th will be paid a dividend of 0.06 per share by the financial services provider on Thursday, April 19th. This represents a $0.72 annualized dividend and a dividend yield of 10.64%. The ex-dividend date of this dividend is Wednesday, March 28th.

Shares of Prospect Capital (NASDAQ PSEC) traded up $0.27 during midday trading on Friday, hitting $6.77. The stock had a trading volume of 4,672,113 shares, compared to its average volume of 2,427,301. Prospect Capital has a twelve month low of $5.51 and a twelve month high of $9.58. The stock has a market capitalization of $2,440.00, a P/E ratio of 11.88 and a beta of 0.48. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.63 and a current ratio of 2.63.

Prospect Capital (NASDAQ:PSEC) last announced its earnings results on Wednesday, February 7th. The financial services provider reported $0.20 EPS for the quarter, beating the consensus estimate of $0.18 by $0.02. Prospect Capital had a return on equity of 8.36% and a net margin of 31.02%. The business had revenue of $162.40 million during the quarter, compared to the consensus estimate of $153.94 million. During the same period in the prior year, the business posted $0.28 earnings per share. Prospect Capital’s revenue was down 11.5% compared to the same quarter last year. research analysts anticipate that Prospect Capital will post 0.72 earnings per share for the current fiscal year.

In other Prospect Capital news, COO M Grier Eliasek acquired 10,000 shares of Prospect Capital stock in a transaction that occurred on Monday, November 27th. The stock was purchased at an average cost of $6.89 per share, with a total value of $68,900.00. Following the purchase, the chief operating officer now owns 1,003,990 shares in the company, valued at $6,917,491.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John F. Barry acquired 995,883 shares of Prospect Capital stock in a transaction that occurred on Monday, November 20th. The stock was acquired at an average cost of $6.98 per share, with a total value of $6,951,263.34. Following the completion of the purchase, the insider now owns 25,219,413 shares in the company, valued at approximately $176,031,502.74. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 4,504,521 shares of company stock valued at $31,215,551. Company insiders own 7.10% of the company’s stock.

Several equities research analysts have recently commented on the company. Zacks Investment Research raised Prospect Capital from a “sell” rating to a “hold” rating and set a $7.75 target price for the company in a report on Thursday, January 11th. BidaskClub raised Prospect Capital from a “sell” rating to a “hold” rating in a report on Monday. BMO Capital Markets reaffirmed a “hold” rating and set a $7.00 target price on shares of Prospect Capital in a report on Monday, January 8th. Finally, ValuEngine downgraded Prospect Capital from a “strong-buy” rating to a “buy” rating in a report on Friday, February 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $6.81.

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About Prospect Capital

Prospect Capital Corporation is a financial services company. The Company primarily lends to and invests in middle market privately held companies. The Company is a closed-end investment company. Its investment objective is to generate both current income and long-term capital appreciation through debt and equity investments.

Dividend History for Prospect Capital (NASDAQ:PSEC)

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