Prospect Capital Co. (PSEC) To Go Ex-Dividend on September 26th

Prospect Capital Co. (NASDAQ:PSEC) announced a monthly dividend on Tuesday, August 27th, Zacks reports. Investors of record on Thursday, September 26th will be paid a dividend of 0.06 per share by the financial services provider on Tuesday, October 22nd. This represents a $0.72 dividend on an annualized basis and a yield of 13.24%. The ex-dividend date of this dividend is Thursday, September 26th.

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 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 Down 0.9 %

NASDAQ:PSEC opened at $5.44 on Tuesday. The company has a 50-day moving average price of $5.25 and a 200-day moving average price of $5.42. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of 16.00 and a beta of 1.00. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66. Prospect Capital has a 12 month low of $4.69 and a 12 month high of $6.30.

Prospect Capital (NASDAQ:PSEC) last announced its earnings results on Wednesday, August 28th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.07. Prospect Capital had a return on equity of 13.53% and a net margin of 28.07%. The firm had revenue of $212.26 million during the quarter. During the same period in the prior year, the company posted $0.23 EPS.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PSEC. Wells Fargo & Company reduced their target price 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 cut shares of Prospect Capital from a “hold” rating to a “sell” rating in a report on Friday, August 30th.

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.