Prospect Capital Co. to Issue Monthly Dividend of $0.06 (NASDAQ:PSEC)

Prospect Capital Co. (NASDAQ:PSEC) announced a monthly dividend on Tuesday, August 27th, Zacks reports. Investors of record on Thursday, September 26th will be paid a dividend of 0.06 per share by the financial services provider on Tuesday, October 22nd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 13.16%. The ex-dividend date of this dividend is Thursday, September 26th.

Prospect Capital has increased its dividend by an average of 13.6% per year over the last three years. Prospect Capital has a payout ratio of 118.0% meaning 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 Performance

Shares of Prospect Capital stock opened at $5.47 on Wednesday. The stock’s fifty day moving average is $5.25 and its two-hundred day moving average is $5.42. The company has a market capitalization of $2.37 billion, a PE ratio of 16.09 and a beta of 1.00. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.66. Prospect Capital has a 52 week low of $4.69 and a 52 week high of $6.30.

Prospect Capital (NASDAQ:PSEC) last announced its quarterly earnings data on Wednesday, August 28th. The financial services provider reported $0.25 EPS for the quarter, beating the consensus estimate of $0.18 by $0.07. The company had revenue of $212.26 million for the quarter. Prospect Capital had a return on equity of 13.53% and a net margin of 28.07%. During the same period last year, the company earned $0.23 EPS.

Analysts Set New Price Targets

PSEC has been the topic of several research reports. StockNews.com lowered Prospect Capital from a “hold” rating to a “sell” rating in a research note on Friday, August 30th. Wells Fargo & Company cut their price target on Prospect Capital from $5.00 to $4.50 and set an “underweight” rating on the stock in a research note on Friday, August 30th.

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.