Prospect Capital Corporation Plans Monthly Dividend of $0.04 (NASDAQ:PSEC)

Prospect Capital Corporation (NASDAQ:PSEC) announced a monthly dividend on Thursday, May 7th. Shareholders of record on Friday, June 26th will be given a dividend of 0.035 per share by the financial services provider on Wednesday, July 22nd. This represents a c) dividend on an annualized basis and a yield of 16.8%. The ex-dividend date is Friday, June 26th.

Prospect Capital has decreased its dividend by an average of 0.0%per year over the last three years. Prospect Capital has a payout ratio of 114.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Prospect Capital Price Performance

PSEC stock opened at $2.50 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.74. The firm has a market capitalization of $1.21 billion, a P/E ratio of -3.08 and a beta of 0.82. The business’s 50-day moving average is $2.67 and its two-hundred day moving average is $2.70. Prospect Capital has a 1 year low of $2.45 and a 1 year high of $3.77.

Prospect Capital (NASDAQ:PSEC) last posted its quarterly earnings results on Thursday, May 7th. The financial services provider reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.05. The company had revenue of $150.07 million for the quarter, compared to analyst estimates of $163.23 million. Prospect Capital had a positive return on equity of 11.91% and a negative net margin of 39.56%.

Wall Street Analysts Forecast Growth

PSEC has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Prospect Capital in a research report on Tuesday, April 21st. Wall Street Zen lowered Prospect Capital from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Two equities research analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, Prospect Capital presently has a consensus rating of “Sell” and an average target price of $2.50.

Prospect Capital Company Profile

Prospect Capital Corporation is a publicly traded business development company listed on the Nasdaq stock exchange that specializes in providing private debt and equity financing solutions to middle-market companies across the United States. Structured as a closed-end, non-diversified management investment company under the Investment Company Act of 1940, Prospect Capital offers investors access to a diversified portfolio of senior secured loans, subordinated debt and selective equity interests in privately held businesses.

Since its founding in 2004, Prospect Capital has focused on tailoring financing structures to meet the growth, acquisition and recapitalization needs of its portfolio companies.