Prospect Capital Corporation (NASDAQ:PSEC) announced that Prospect has declared monthly cash distributions to shareholders in the following amounts and with the following record and payment dates:
8.333 cents per share for September 2015 (record date of September 30, 2015 and payment date of October 22, 2015); and
8.333 cents per share for October 2015 (record date of October 30, 2015 and payment date of November 19, 2015).
These distributions mark Prospect’s 86th and 87th consecutive cash distributions to shareholders.
Prospect’s closing stock price of $7.25 as of August 21, 2015 delivers to shareholders a current dividend yield of 13.8%.
Based on past distributions and assuming its current share count for upcoming distributions, Prospect since inception through its August 2015 distribution will have distributed more than $14.12 per share to original shareholders and over $1.67 billion in cumulative distributions to all shareholders.
Prospect expects to declare its November 2015, December 2015 and January 2016 distributions in November 2015. (Original Source)
Shares of Prospect Capital closed last Friday at $7.25. PSEC has a 1-year high of $10.98 and a 1-year low of $7.01. The stock’s 50-day moving average is $7.25 and its 200-day moving average is $7.74.
On the ratings front, Prospect Capital has been the subject of a number of recent research reports. In a report issued on July 1, Cantor Fitzgerald analyst David Chiaverini initiated coverage with a Hold rating on PSEC and a price target of $8, which represents a potential upside of 10.3% from where the stock is currently trading. Separately, on May 7, MLV & Co.’s Christopher Nolan maintained a Buy rating on the stock and has a price target of $9.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, David Chiaverini and Christopher Nolan have a total average return of 6.1% and -9.4% respectively. Chiaverini has a success rate of 54.2% and is ranked #1018 out of 3737 analysts, while Nolan has a success rate of 23.4% and is ranked #3566.
Prospect Capital Corporation is a closed-end investment company. It invests in senior and subordinated debt and equity of companies in need of capital for acquisitions, divestitures, growth, development, recapitalizations and other purposes.