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

Prospect Capital Co. (NASDAQ:PSEC) declared a dividend on Wednesday, February 26th, investing.com reports. Investors of record on Thursday, February 27th will be given a dividend of 0.045 per share by the financial services provider on Thursday, March 20th. This represents a dividend yield of 12.47%. The ex-dividend date of this dividend is Wednesday, February 26th.

Prospect Capital has decreased its dividend by an average of 2.1% annually over the last three years. Prospect Capital has a dividend payout ratio of 101.9% 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 Down 0.5 %

NASDAQ:PSEC opened at $4.31 on Friday. The company has a market cap of $1.91 billion, a PE ratio of -21.55 and a beta of 0.99. Prospect Capital has a twelve month low of $4.09 and a twelve month high of $5.72. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.60. The company’s 50 day moving average is $4.31 and its two-hundred day moving average is $4.76.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Prospect Capital from a “sell” rating to a “hold” rating in a report on Friday, December 6th.

Insiders Place Their Bets

In other news, CEO John F. Barry acquired 2,000,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The stock was purchased at an average cost of $4.29 per share, for a total transaction of $8,580,000.00. Following the completion of the transaction, the chief executive officer now owns 79,477,549 shares in the company, valued at approximately $340,958,685.21. This trade represents a 2.58 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 27.10% of the stock is currently owned by company insiders.

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.