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

Prospect Capital Co. (NASDAQ:PSEC - Get Free Report) declared a dividend on Thursday, February 6th, NASDAQ Dividends reports. Shareholders of record on Thursday, March 27th will be paid a dividend of 0.045 per share by the financial services provider on Thursday, April 17th. The ex-dividend date is Thursday, March 27th.

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

PSEC stock traded down $0.02 on Thursday, reaching $4.31. 2,297,651 shares of the company traded hands, compared to its average volume of 2,532,653. The firm has a fifty day simple moving average of $4.31 and a 200-day simple moving average of $4.76. The company has a market cap of $1.91 billion, a P/E ratio of -21.55 and a beta of 0.99. Prospect Capital has a one year low of $4.09 and a one year high of $5.72. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.76 and a quick ratio of 0.76.

Insider Transactions at Prospect Capital

In other Prospect Capital news, COO M Grier Eliasek acquired 210,000 shares of Prospect Capital stock in a transaction that occurred on Friday, November 29th. The stock was bought at an average cost of $4.81 per share, for a total transaction of $1,010,100.00. Following the acquisition, the chief operating officer now owns 2,131,130 shares of the company's stock, valued at $10,250,735.30. This represents a 10.93 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO John F. Barry bought 2,000,000 shares of the firm's stock in a transaction on Tuesday, December 24th. The stock was acquired at an average cost of $4.29 per share, with a total value of $8,580,000.00. Following the transaction, the chief executive officer now owns 79,477,549 shares in the company, valued at $340,958,685.21. The trade was a 2.58 % increase in their position. The disclosure for this purchase can be found here. Insiders own 27.10% of the company's stock.

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Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Prospect Capital from a "sell" rating to a "hold" rating in a report on Friday, December 6th.

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.