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

Prospect Capital Co. (NASDAQ:PSEC) declared a dividend on Thursday, February 6th, NASDAQ Dividends reports. Shareholders of record on Wednesday, February 26th will be given a dividend of 0.045 per share by the financial services provider on Thursday, March 20th. 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% 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 0.2 %

NASDAQ:PSEC opened at $4.44 on Monday. Prospect Capital has a twelve month low of $4.09 and a twelve month high of $5.86. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.60. The business has a 50 day moving average price of $4.31 and a two-hundred day moving average price of $4.77. The company has a market cap of $1.97 billion, a P/E ratio of -22.20 and a beta of 0.99.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Prospect Capital from a “sell” rating to a “hold” rating in a research note on Friday, December 6th.

Insiders Place Their Bets

In other news, CEO John F. Barry purchased 2,000,000 shares of the business’s stock in a transaction dated Tuesday, December 24th. The shares were purchased at an average cost of $4.29 per share, with a total value of $8,580,000.00. Following the completion of the purchase, the chief executive officer now owns 79,477,549 shares of the company’s stock, valued at $340,958,685.21. This trade represents a 2.58 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, COO M Grier Eliasek acquired 210,000 shares of the stock in a transaction dated Friday, November 29th. The shares were bought at an average price of $4.81 per share, with a total value of $1,010,100.00. Following the completion of the transaction, the chief operating officer now directly owns 2,131,130 shares of the company’s stock, valued at $10,250,735.30. The trade was a 10.93 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 2,215,000 shares of company stock worth $9,613,700 in the last 90 days. Company insiders own 27.10% of the company’s stock.

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.