Prospect Capital Corporation (PSEC) to Issue Monthly Dividend of $0.04 on October 21st

Prospect Capital Corporation (NASDAQ:PSEC) declared a monthly dividend on Wednesday, August 19th. Investors of record on Monday, September 28th will be paid a dividend of $0.0350 per share by the financial services provider on Wednesday, October 21st. This represents a $0.42 dividend on an annualized basis and a dividend yield of 19.2%. The ex-dividend date of this dividend is Monday, September 28th.

Prospect Capital has decreased its dividend payment by an average of 0.1%annually over the last three years. Prospect Capital has a payout ratio of 89.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble.

Prospect Capital Stock Performance

Shares of PSEC stock opened at $2.19 on Friday. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 43.80 and a beta of 0.80. The stock has a fifty day moving average of $2.23 and a 200 day moving average of $2.37. Prospect Capital has a 52 week low of $2.11 and a 52 week high of $3.13. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.64.

Prospect Capital (NASDAQ:PSEC) last issued its quarterly earnings data on Thursday, August 20th. The financial services provider reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. The business had revenue of $155.76 million for the quarter, compared to the consensus estimate of $149.80 million. Prospect Capital had a net margin of 19.33% and a return on equity of 12.15%.

Insiders Place Their Bets

In related news, CEO John Barry. III acquired 1,217,105 shares of Prospect Capital stock in a transaction that occurred on Friday, September 4th. The stock was bought at an average price of $2.24 per share, with a total value of $2,726,315.20. Following the transaction, the chief executive officer directly owned 90,479,988 shares in the company, valued at approximately $202,675,173.12. This represents a 1.36% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.03% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Prospect Capital

A number of institutional investors have recently modified their holdings of the stock. Foundations Investment Advisors LLC bought a new position in Prospect Capital in the 4th quarter worth about $31,000. WINTON GROUP Ltd bought a new stake in Prospect Capital during the 2nd quarter valued at about $35,000. Caitong International Asset Management Co. Ltd increased its stake in Prospect Capital by 55.5% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 16,970 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 6,056 shares in the last quarter. GTS Securities LLC purchased a new position in Prospect Capital in the second quarter worth about $40,000. Finally, Spartan Wealth Advisory Services LLC purchased a new position in Prospect Capital in the first quarter worth about $50,000. 9.06% of the stock is owned by hedge funds and other institutional investors.

About Prospect Capital

Prospect Capital Corporation (NASDAQ:PSEC) is a business development company that provides financing to middle-market businesses. The company primarily invests in privately held companies through first-lien and second-lien secured loans, unsecured debt, mezzanine financing and equity investments.

Prospect Capital generally works with companies across a range of industries and seeks to provide customized capital solutions for acquisitions, recapitalizations, refinancings, growth initiatives and other corporate purposes.