Prospect Capital Co. (NASDAQ:PSEC - Get Free Report) announced a dividend on Wednesday, February 26th, investing.com reports. Investors of record on Thursday, February 27th will be paid a dividend of 0.045 per share by the financial services provider on Thursday, March 20th. This represents a dividend yield of 12.47%. The ex-dividend date is Wednesday, February 26th.
Prospect Capital has decreased its dividend by an average of 2.1% annually 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 Up 2.1 %
NASDAQ:PSEC traded up $0.09 during midday trading on Friday, reaching $4.40. 2,505,827 shares of the stock traded hands, compared to its average volume of 2,532,089. The stock has a market capitalization of $1.95 billion, a PE ratio of -22.00 and a beta of 0.99. Prospect Capital has a 12-month low of $4.09 and a 12-month high of $5.72. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.76 and a current ratio of 0.76. The business has a 50-day moving average of $4.32 and a two-hundred day moving average of $4.75.
Analyst Upgrades and Downgrades
Separately, StockNews.com upgraded Prospect Capital from a "sell" rating to a "hold" rating in a research note on Friday, December 6th.
Read Our Latest Analysis on Prospect Capital
Insiders Place Their Bets
In other news, CEO John F. Barry bought 2,000,000 shares of the company's stock in a transaction that occurred on Tuesday, December 24th. The shares were purchased at an average price of $4.29 per share, for a total transaction of $8,580,000.00. Following the completion of the transaction, the chief executive officer now directly owns 79,477,549 shares in the company, valued at approximately $340,958,685.21. This represents a 2.58 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 27.10% of the stock is owned by insiders.
About Prospect Capital
(
Get Free Report)
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.
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