Prospect Capital Co. (PSEC) to Issue Dividend of $0.05 on March 20th

Prospect Capital Co. (NASDAQ:PSEC) declared a dividend on Thursday, February 6th, NASDAQ Dividends reports. Stockholders of record on Wednesday, February 26th will be paid a dividend of 0.045 per share by the financial services provider on Thursday, March 20th. The ex-dividend date 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 Stock Performance

Shares of PSEC opened at $4.44 on Monday. Prospect Capital has a 1 year low of $4.09 and a 1 year high of $5.86. The company has a market cap of $1.97 billion, a price-to-earnings ratio of -22.20 and a beta of 0.99. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a fifty day moving average of $4.31 and a 200-day moving average of $4.77.

Analysts Set New Price Targets

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

Insider Buying and Selling at Prospect Capital

In related news, COO M Grier Eliasek acquired 210,000 shares of the business’s stock in a transaction on Friday, November 29th. The shares were purchased at an average price of $4.81 per share, for a total transaction of $1,010,100.00. Following the acquisition, the chief operating officer now owns 2,131,130 shares in the company, valued at approximately $10,250,735.30. This represents a 10.93 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John F. Barry acquired 2,000,000 shares of the stock in a transaction on Tuesday, December 24th. The shares were purchased at an average price of $4.29 per share, for a total transaction 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 approximately $340,958,685.21. This represents a 2.58 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 2,215,000 shares of company stock valued at $9,613,700. 27.10% of the stock is owned by 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.