Prospect Capital Corporation (NASDAQ:PSEC) Plans $0.05 Monthly Dividend

Prospect Capital Corporation (NASDAQ:PSEC) declared a monthly dividend on Monday, February 9th. Investors of record on Tuesday, April 28th will be paid a dividend of 0.045 per share by the financial services provider on Tuesday, May 19th. This represents a c) annualized dividend and a yield of 19.6%. The ex-dividend date is Tuesday, April 28th.

Prospect Capital has decreased its dividend payment 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 traded up $0.15 during trading on Tuesday, reaching $2.76. The stock had a trading volume of 1,050,963 shares, compared to its average volume of 4,054,433. The business has a 50-day moving average of $2.68 and a 200-day moving average of $2.75. Prospect Capital has a one year low of $2.45 and a one year high of $4.47. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.22 and a current ratio of 1.22. The stock has a market cap of $1.30 billion, a PE ratio of -3.20 and a beta of 0.89.

Prospect Capital (NASDAQ:PSEC) last posted its quarterly earnings data on Monday, February 9th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.09. The firm had revenue of $176.00 million during the quarter, compared to analysts’ expectations of $156.34 million. Prospect Capital had a positive return on equity of 12.29% and a negative net margin of 42.50%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Wall Street Zen upgraded shares of Prospect Capital from a “hold” rating to a “buy” rating in a research report on Saturday, December 6th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Prospect Capital in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell” and a consensus 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.