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

Prospect Capital Co. (NASDAQ:PSEC) announced a dividend on Wednesday, February 26th, investing.com reports. Investors of record on Thursday, February 27th will be given a dividend of 0.045 per share by the financial services provider on Thursday, March 20th. This represents a yield of 12.47%. The ex-dividend date of this dividend is Wednesday, February 26th.

Prospect Capital has decreased its dividend payment by an average of 2.1% annually over the last three years. Prospect Capital has a dividend 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 Trading Down 0.5 %

Shares of NASDAQ PSEC opened at $4.31 on Friday. The firm’s 50 day moving average price is $4.31 and its 200-day moving average price is $4.76. The company has a market cap of $1.91 billion, a PE ratio of -21.55 and a beta of 0.99. Prospect Capital has a 52-week low of $4.09 and a 52-week high of $5.72. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.76 and a current ratio of 0.76.

Insider Buying and Selling at Prospect Capital

In other Prospect Capital news, CEO John F. Barry acquired 2,000,000 shares of the company’s stock in a transaction on Tuesday, December 24th. The stock was acquired at an average cost of $4.29 per share, with a total value of $8,580,000.00. Following the purchase, the chief executive officer now directly owns 79,477,549 shares of the company’s stock, valued at approximately $340,958,685.21. This represents a 2.58 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 27.10% of the stock is currently owned by insiders.

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.

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.