Prospect Capital Co. (PSEC) To Go Ex-Dividend on April 28th

Prospect Capital Co. (NASDAQ:PSEC) announced a monthly dividend on Tuesday, February 11th,Wall Street Journal reports. Stockholders of record on Monday, April 28th will be given a dividend of 0.045 per share by the financial services provider on Tuesday, May 20th. This represents a $0.54 annualized dividend and a dividend yield of 12.41%. The ex-dividend date is Monday, April 28th.

Prospect Capital has decreased its dividend by an average of 2.1% annually over the last three years. Prospect Capital has a dividend 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 Up 1.4 %

PSEC opened at $4.35 on Thursday. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.65. Prospect Capital has a 52 week low of $4.09 and a 52 week high of $5.86. The business’s 50 day moving average is $4.32 and its two-hundred day moving average is $4.82.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, CEO John F. Barry bought 2,000,000 shares of Prospect Capital stock in a transaction dated Tuesday, December 24th. The stock was bought at an average price of $4.29 per share, for a total transaction of $8,580,000.00. Following the purchase, the chief executive officer now owns 79,477,549 shares of the company’s stock, valued at approximately $340,958,685.21. The trade was a 2.58 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO M Grier Eliasek purchased 210,000 shares of the company’s stock in a transaction dated 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 completion of the purchase, the chief operating officer now owns 2,131,130 shares of the company’s stock, valued at approximately $10,250,735.30. This trade represents a 10.93 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 5,273,173 shares of company stock valued at $23,701,420. 27.10% of the stock is owned by company insiders.

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.