Prospect Capital Corporation (NASDAQ:PSEC) Declares $0.04 Monthly Dividend

Prospect Capital Corporation (NASDAQ:PSEC) announced a monthly dividend on Thursday, May 7th. Shareholders of record on Thursday, August 27th will be paid a dividend of 0.035 per share by the financial services provider on Thursday, September 17th. This represents a c) dividend on an annualized basis and a yield of 16.8%. The ex-dividend date of this dividend is Thursday, August 27th.

Prospect Capital has decreased its dividend payment by an average of 0.0%per year over the last three years. Prospect Capital has a payout ratio of 114.9% 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 Price Performance

Shares of PSEC opened at $2.50 on Friday. Prospect Capital has a twelve month low of $2.45 and a twelve month high of $3.77. The stock’s 50 day moving average is $2.67 and its two-hundred day moving average is $2.70. The firm has a market capitalization of $1.21 billion, a PE ratio of -3.08 and a beta of 0.82. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.62.

Prospect Capital (NASDAQ:PSEC) last announced its quarterly earnings data on Thursday, May 7th. The financial services provider reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.05. Prospect Capital had a positive return on equity of 11.91% and a negative net margin of 39.56%.The company had revenue of $150.07 million for the quarter, compared to analyst estimates of $163.23 million.

About Prospect Capital

Prospect Capital Corporation is a publicly traded business development company listed on the Nasdaq stock exchange that specializes in providing private debt and equity financing solutions to middle-market companies across the United States. Structured as a closed-end, non-diversified management investment company under the Investment Company Act of 1940, Prospect Capital offers investors access to a diversified portfolio of senior secured loans, subordinated debt and selective equity interests in privately held businesses.

Since its founding in 2004, Prospect Capital has focused on tailoring financing structures to meet the growth, acquisition and recapitalization needs of its portfolio companies.