Prospect Capital Co. (PSEC) To Go Ex-Dividend on June 26th

Prospect Capital Co. (NASDAQ:PSEC) declared a monthly dividend on Friday, May 10th, Wall Street Journal reports. Stockholders of record on Wednesday, June 26th will be paid a dividend of 0.06 per share by the financial services provider on Thursday, July 18th. This represents a $0.72 annualized dividend and a dividend yield of 13.16%. The ex-dividend date of this dividend is Wednesday, June 26th.

Prospect Capital has raised its dividend payment by an average of 13.6% per year over the last three years. Prospect Capital has a payout ratio of 98.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Prospect Capital to earn $0.72 per share next year, which means the company may not be able to cover its $0.72 annual dividend with an expected future payout ratio of 100.0%.

Prospect Capital Trading Up 0.5 %

Shares of NASDAQ PSEC opened at $5.47 on Friday. The company’s 50 day simple moving average is $5.42 and its 200 day simple moving average is $5.67. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.72 and a quick ratio of 1.07. Prospect Capital has a fifty-two week low of $5.03 and a fifty-two week high of $6.69. The firm has a market capitalization of $2.29 billion, a P/E ratio of 16.09 and a beta of 1.00.

Prospect Capital (NASDAQ:PSEC) last announced its quarterly earnings data on Thursday, February 8th. The financial services provider reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. Prospect Capital had a return on equity of 13.32% and a net margin of 25.13%. The business had revenue of $210.94 million during the quarter, compared to analysts’ expectations of $226.14 million. On average, analysts predict that Prospect Capital will post 0.82 EPS for the current year.

Insider Activity at Prospect Capital

In other news, CFO Dask Kristin Lea Van purchased 5,000 shares of the company’s stock in a transaction on Monday, March 11th. The shares were purchased at an average price of $5.44 per share, with a total value of $27,200.00. Following the purchase, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at approximately $54,400. The transaction was disclosed in a document filed with the SEC, which is available at this link. 26.69% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PSEC. StockNews.com raised Prospect Capital from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Wells Fargo & Company boosted their price objective on Prospect Capital from $5.50 to $5.75 and gave the company an “underweight” rating in a research report on Monday, January 29th.

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.