Prospect Capital Co. (PSEC) To Go Ex-Dividend on August 28th

Prospect Capital Co. (NASDAQ:PSECGet Free Report) announced a monthly dividend on Tuesday, May 14th, Wall Street Journal reports. Investors of record on Wednesday, August 28th will be paid a dividend of 0.06 per share by the financial services provider on Thursday, September 19th. This represents a $0.72 annualized dividend and a dividend yield of 12.72%. The ex-dividend date of this dividend is Wednesday, August 28th.

Prospect Capital has raised its dividend payment by an average of 13.6% annually 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 decline. 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 1.3 %

NASDAQ:PSEC opened at $5.66 on Thursday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.66. Prospect Capital has a 12 month low of $5.03 and a 12 month high of $6.69. The company has a market cap of $2.36 billion, a PE ratio of 16.65 and a beta of 1.00. The company has a 50 day simple moving average of $5.43 and a two-hundred day simple moving average of $5.67.

Analysts Set New Price Targets

PSEC has been the subject of a number of recent research reports. Wells Fargo & Company boosted their price objective on shares of Prospect Capital from $5.50 to $5.75 and gave the company an “underweight” rating in a research report on Monday, January 29th. StockNews.com raised shares of Prospect Capital from a “sell” rating to a “hold” rating in a research report on Friday, April 26th.

Get Our Latest Stock Analysis on Prospect Capital

Insider Buying and Selling

In other news, CFO Dask Kristin Lea Van bought 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was bought at an average price of $5.44 per share, with a total value of $27,200.00. Following the acquisition, the chief financial officer now owns 10,000 shares of the company’s stock, valued at approximately $54,400. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 26.69% of the stock is currently 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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Dividend History for Prospect Capital (NASDAQ:PSEC)

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