Prospect Capital Co. (NASDAQ:PSEC) declared a monthly dividend on Thursday, February 11th, Wall Street Journal reports. Stockholders of record on Wednesday, March 31st will be paid a dividend of 0.06 per share by the financial services provider on Thursday, April 22nd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 10.20%. The ex-dividend date of this dividend is Tuesday, March 30th.
Prospect Capital has a payout ratio of 100.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Prospect Capital to earn $0.73 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 98.6%.
Shares of PSEC stock traded up $0.01 during trading hours on Thursday, reaching $7.06. 3,377,265 shares of the company’s stock were exchanged, compared to its average volume of 3,006,734. The stock’s 50 day moving average is $5.96 and its 200-day moving average is $5.36. The company has a market cap of $2.69 billion, a price-to-earnings ratio of 20.37 and a beta of 0.97. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.68. Prospect Capital has a fifty-two week low of $3.67 and a fifty-two week high of $7.23.
Several research firms recently issued reports on PSEC. TheStreet raised Prospect Capital from a “c+” rating to a “b-” rating in a research report on Thursday, December 3rd. Zacks Investment Research raised Prospect Capital from a “sell” rating to a “hold” rating in a research report on Wednesday.
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.
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