Prospect Capital Corporation (PSEC) to Issue Monthly Dividend of $0.04 on August 20th

Prospect Capital Corporation (NASDAQ:PSEC) announced a monthly dividend on Tuesday, May 5th. Stockholders of record on Wednesday, July 29th will be paid a dividend of 0.035 per share by the financial services provider on Thursday, August 20th. This represents a c) annualized dividend and a dividend yield of 19.8%. The ex-dividend date of this dividend is Wednesday, July 29th.

Prospect Capital has decreased its dividend by an average of 0.0%per year over the last three years. Prospect Capital has a dividend payout ratio of 89.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall.

Prospect Capital Price Performance

Shares of Prospect Capital stock opened at $2.12 on Monday. The business’s fifty day moving average price is $2.26 and its 200 day moving average price is $2.55. Prospect Capital has a twelve month low of $2.11 and a twelve month high of $3.48. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $1.06 billion, a P/E ratio of -5.73 and a beta of 0.78.

Prospect Capital (NASDAQ:PSEC) last released its quarterly earnings data on Thursday, May 7th. The financial services provider reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.05. The company had revenue of $150.07 million for the quarter, compared to the consensus estimate of $163.23 million. Prospect Capital had a positive return on equity of 12.03% and a negative net margin of 10.42%.

Insider Activity

In other news, CEO John F. Barry bought 1,067,648 shares of Prospect Capital stock in a transaction on Tuesday, June 23rd. The stock was purchased at an average cost of $2.27 per share, with a total value of $2,423,560.96. Following the purchase, the chief executive officer directly owned 89,213,725 shares of the company’s stock, valued at approximately $202,515,155.75. This trade represents a 1.21% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders have acquired a total of 2,732,648 shares of company stock worth $6,216,361 over the last three months. Insiders own 0.03% of the company’s stock.

Institutional Investors Weigh In On Prospect Capital

Institutional investors have recently added to or reduced their stakes in the company. GraniteShares Advisors LLC acquired a new position in Prospect Capital during the fourth quarter worth about $2,745,000. Tudor Investment Corp ET AL raised its holdings in shares of Prospect Capital by 12.1% in the 3rd quarter. Tudor Investment Corp ET AL now owns 2,604,286 shares of the financial services provider’s stock worth $7,162,000 after purchasing an additional 282,119 shares in the last quarter. Independent Financial Group LLC acquired a new stake in Prospect Capital during the first quarter valued at approximately $8,644,000. Legal & General Group Plc boosted its holdings in Prospect Capital by 21.8% during the fourth quarter. Legal & General Group Plc now owns 3,321,477 shares of the financial services provider’s stock worth $8,652,000 after buying an additional 593,563 shares in the last quarter. Finally, UBS Group AG grew its position in Prospect Capital by 44.5% in the fourth quarter. UBS Group AG now owns 4,989,986 shares of the financial services provider’s stock worth $12,924,000 after buying an additional 1,536,808 shares during the last quarter. 9.06% of the stock is currently owned by institutional investors and hedge funds.

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.