Prospect Capital Co. (NASDAQ:PSEC) Plans Dividend of $0.05

Prospect Capital Co. (NASDAQ:PSEC) declared a dividend on Wednesday, February 26th, investing.com reports. Stockholders of record on Thursday, February 27th will be paid a dividend of 0.045 per share by the financial services provider on Thursday, March 20th. This represents a dividend yield of 12.47%. The ex-dividend date of this dividend is Wednesday, February 26th.

Prospect Capital has decreased its dividend by an average of 2.1% annually over the last three years. Prospect Capital has a payout ratio of 101.9% meaning 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 $4.33 on Thursday. The firm has a market capitalization of $1.92 billion, a PE ratio of -21.65 and a beta of 0.99. The company’s 50-day moving average is $4.31 and its 200-day moving average is $4.76. Prospect Capital has a fifty-two week low of $4.09 and a fifty-two week high of $5.72. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.76 and a quick ratio of 0.76.

Insider Buying and Selling

In other Prospect Capital news, CEO John F. Barry purchased 2,000,000 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were acquired at an average cost of $4.29 per share, with a total value of $8,580,000.00. Following the completion of the transaction, the chief executive officer now owns 79,477,549 shares in the company, valued at $340,958,685.21. The trade was a 2.58 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO M Grier Eliasek purchased 210,000 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were acquired at an average cost of $4.81 per share, for a total transaction of $1,010,100.00. Following the completion of the transaction, the chief operating officer now owns 2,131,130 shares of the company’s stock, valued at $10,250,735.30. This trade represents a 10.93 % increase in their position. The disclosure for this purchase can be found here. 27.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Prospect Capital from a “sell” rating to a “hold” rating in a research report on Friday, December 6th.

About Prospect Capital

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.