Prospect Capital Co. (NASDAQ:PSEC) to Issue $0.05 Monthly Dividend

Prospect Capital Co. (NASDAQ:PSEC) announced a monthly dividend on Tuesday, November 12th,Wall Street Journal reports. Investors of record on Friday, December 27th will be given a dividend of 0.045 per share by the financial services provider on Wednesday, January 22nd. This represents a $0.54 annualized dividend and a dividend yield of 12.50%. The ex-dividend date of this dividend is Friday, December 27th.

Prospect Capital has increased its dividend by an average of 13.6% annually over the last three years. Prospect Capital has a payout ratio of 118.0% 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 Up 1.2 %

Shares of PSEC stock traded up $0.05 during trading on Wednesday, hitting $4.32. 769,677 shares of the company were exchanged, compared to its average volume of 2,292,941. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.48. The business’s 50-day simple moving average is $5.23 and its 200 day simple moving average is $5.34. Prospect Capital has a twelve month low of $4.15 and a twelve month high of $6.30.

Prospect Capital (NASDAQ:PSEC) last posted its quarterly earnings results on Friday, November 8th. The financial services provider reported $0.21 EPS for the quarter, topping the consensus estimate of $0.17 by $0.04. The business had revenue of $196.31 million during the quarter. Prospect Capital had a negative net margin of 2.23% and a positive return on equity of 12.19%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. StockNews.com cut shares of Prospect Capital from a “hold” rating to a “sell” rating in a report on Friday, August 30th. Wells Fargo & Company cut their price objective on shares of Prospect Capital from $5.00 to $4.50 and set an “underweight” rating on the stock in a research report on Friday, August 30th.

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.