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

Prospect Capital Co. (NASDAQ:PSEC - Get Free Report) announced a monthly dividend on Tuesday, November 5th,Zacks Dividends reports. Investors of record on Tuesday, November 26th will be paid a dividend of 0.045 per share by the financial services provider on Thursday, December 19th. This represents a $0.54 annualized dividend and a dividend yield of 11.18%. The ex-dividend date of this dividend is Tuesday, November 26th.

Prospect Capital has increased its dividend payment by an average of 13.6% annually over the last three years. Prospect Capital has a dividend payout ratio of 100.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings decline.

Prospect Capital Stock Up 3.9 %

NASDAQ:PSEC traded up $0.18 during trading hours on Friday, reaching $4.83. The company's stock had a trading volume of 4,680,814 shares, compared to its average volume of 4,582,150. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.48 and a quick ratio of 0.48. The company has a market cap of $2.11 billion, a price-to-earnings ratio of -18.58 and a beta of 1.00. Prospect Capital has a one year low of $4.15 and a one year high of $6.30. The business's 50-day moving average is $5.10 and its 200-day moving average is $5.30.

Prospect Capital (NASDAQ:PSEC - Get Free Report) last released its quarterly earnings results on Friday, November 8th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.04. Prospect Capital had a positive return on equity of 12.19% and a negative net margin of 2.23%. The company had revenue of $196.31 million during the quarter.

Insider Buying and Selling at Prospect Capital

In related news, CEO John F. Barry bought 1,000,000 shares of the business's stock in a transaction that occurred on Wednesday, November 20th. The stock was purchased at an average cost of $4.59 per share, for a total transaction of $4,590,000.00. Following the purchase, the chief executive officer now directly owns 75,465,285 shares in the company, valued at $346,385,658.15. This trade represents a 1.34 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have acquired 2,053,173 shares of company stock valued at $9,284,120 in the last 90 days. 27.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PSEC has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their price target on shares of Prospect Capital from $5.00 to $4.50 and set an "underweight" rating on the stock in a research report on Friday, August 30th. StockNews.com lowered shares of Prospect Capital from a "hold" rating to a "sell" rating in a research report on Friday, August 30th.

Prospect Capital Company Profile

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.