Prospect Capital Corporation (PSEC) To Go Ex-Dividend on August 27th

Prospect Capital Corporation (NASDAQ:PSEC) announced a monthly dividend on Thursday, May 7th. Shareholders of record on Thursday, August 27th will be given 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 dividend yield of 17.0%. 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 Trading Down 10.2%

Prospect Capital stock opened at $2.47 on Friday. The business has a 50-day simple moving average of $2.67 and a two-hundred day simple moving average of $2.70. The company has a market cap of $1.20 billion, a P/E ratio of -6.68 and a beta of 0.82. Prospect Capital has a 52-week low of $2.44 and a 52-week high of $3.77. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.62.

Prospect Capital (NASDAQ:PSEC) last released its quarterly earnings results on Thursday, May 7th. The financial services provider reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.05. The business had revenue of $150.07 million during the quarter, compared to the consensus estimate of $163.23 million. Prospect Capital had a positive return on equity of 12.00% and a negative net margin of 10.42%.

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.