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

Prospect Capital Co. (NASDAQ:PSEC) announced a monthly dividend on Wednesday, November 13th,Wall Street Journal reports. Stockholders of record on Wednesday, January 29th will be given a dividend of 0.045 per share by the financial services provider on Wednesday, February 19th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 12.62%. The ex-dividend date is Wednesday, January 29th.

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 118.0% 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 Trading Up 0.2 %

Prospect Capital stock traded up $0.01 during trading hours on Wednesday, hitting $4.28. The company had a trading volume of 4,578,029 shares, compared to its average volume of 2,311,392. Prospect Capital has a fifty-two week low of $4.15 and a fifty-two week high of $6.30. The company has a quick ratio of 0.93, a current ratio of 0.48 and a debt-to-equity ratio of 0.65. The firm’s fifty day moving average is $5.23 and its 200-day moving average is $5.34.

Prospect Capital (NASDAQ:PSEC) last announced its quarterly earnings data 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 business had revenue of $196.31 million during the quarter.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Wells Fargo & Company cut their price objective 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 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.