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

Prospect Capital Co. (NASDAQ:PSEC) declared a monthly dividend on Tuesday, November 5th,Zacks Dividends reports. Stockholders of record on Tuesday, November 26th will be given a dividend of 0.045 per share by the financial services provider on Thursday, December 19th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 11.18%. The ex-dividend date is Tuesday, November 26th.

Prospect Capital has raised its dividend payment by an average of 13.6% annually over the last three years. Prospect Capital has a dividend payout ratio of 100.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline.

Prospect Capital Trading Up 3.9 %

Shares of Prospect Capital stock opened at $4.83 on Friday. The company’s 50-day moving average price is $5.10 and its 200-day moving average price is $5.30. The company has a market cap of $2.11 billion, a price-to-earnings ratio of -18.58 and a beta of 1.00. Prospect Capital has a 12-month low of $4.15 and a 12-month high of $6.30. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.65.

Prospect Capital (NASDAQ:PSEC) last announced its quarterly earnings results on Friday, November 8th. The financial services provider reported $0.21 EPS for the quarter, beating the consensus estimate of $0.17 by $0.04. The firm had revenue of $196.31 million during the quarter. Prospect Capital had a negative net margin of 2.23% and a positive return on equity of 12.19%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PSEC shares. StockNews.com cut shares of Prospect Capital from a “hold” rating to a “sell” rating in a research note on Friday, August 30th. Wells Fargo & Company decreased their price target on Prospect Capital from $5.00 to $4.50 and set an “underweight” rating on the stock in a research note on Friday, August 30th.

Insider Activity at Prospect Capital

In other news, CEO John F. Barry purchased 205,900 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were bought at an average cost of $4.40 per share, for a total transaction of $905,960.00. Following the completion of the transaction, the chief executive officer now directly owns 72,612,839 shares of the company’s stock, valued at $319,496,491.60. This trade represents a 0.28 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders acquired a total of 2,053,173 shares of company stock worth $9,284,120 over the last quarter. 27.10% of the stock is owned by corporate insiders.

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.