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

Prospect Capital Co. (NASDAQ:PSEC) announced a dividend on Thursday, February 6th, NASDAQ Dividends reports. Shareholders 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 payment by an average of 2.1% per year over the last three years. Prospect Capital has a dividend 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 Stock Down 0.2 %

Shares of PSEC stock opened at $4.44 on Monday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.60. Prospect Capital has a 1 year low of $4.09 and a 1 year high of $5.86. The firm’s fifty day moving average price is $4.31 and its two-hundred day moving average price is $4.77. The firm has a market capitalization 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 shares of Prospect Capital from a “sell” rating to a “hold” rating in a research note on Friday, December 6th.

Insider Buying and Selling at Prospect Capital

In other news, 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 cost of $4.81 per share, for a total transaction of $1,010,100.00. Following the purchase, the chief operating officer now directly 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John F. Barry acquired 2,000,000 shares of the stock in a transaction dated 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 purchase, the chief executive officer now directly 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 disclosure for this purchase can be found here. In the last three months, insiders have acquired 2,215,000 shares of company stock worth $9,613,700. 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.