Dividend-News

Daily dividend news for investors in dividend stocks


Prospect Capital Reduces Its Distribution

Published Tue, 22 Jun 2010 07:08:48 -0400 on Seeking Alpha

As we have long expected and predicted, Prospect Capital (ticker: PSEC) has reduced its dividend distribution level. Our skepticism about the company's ability to maintain its policy of ever increasing dividends was based upon the very substantial gap between Prospect's Net Investment Income Per Share and the dividend: 11 cents a share. That's after Prospect harvested many of the benefits of acquiring Patriot Capital at a discount, as well as getting the one time benefit of repricing three loans last quarter. Here's the language from the last Earnings Report which explains this item: During the three months ended March 31, 2010, we repriced our loans to Aircraft Fasteners International, LLC ("AFI"), Prince Mineral Company, Inc. ("Prince") and R-O-M Corporation ("ROM"). The revised terms were more favorable than the original terms and increased the present value of the future cash flows. In accordance with ASC 320-20-35, the cost bases of the new loans were recorded at par value, resulting in $6.7 million of accelerated original purchase discount recognized as interest income.... Read more

Stock name Last trade   P/E Earnings/Share Dividend/Share Dividend yield
PROSPECT CAPITAL 6.71   16.8 0.40 0.72 10.76

PROSPECT CAPITAL - PSEC
PROSPECT CAPITAL - PSEC  


Older articles featuring Prospect Capital (PSEC):
Oasis Of Dividends From This 10.8% Yielding Sector
This 10% Yielding Sector Will Continue To Rally In 2021
Monthly Pay December Dividend Stocks And Funds
2 Dividend Stocks To Buy With Improving Book Values, Both From PennantPark
11% Dividend Yielding BDC Sector Continues To Soar
November's Top Monthly Pay Dividend Stocks And Funds
Top Monthly Pay Dividend October Stocks And Funds
I Bought Fidus Investment: 12% Yield And 35% Below Book
Ares Capital's NAV, Dividend, And Valuation Vs. 14 BDC Peers - Part 2 (Includes Q4 2020 Dividend Projection For All...
Ares Capital's NAV, Dividend, And Valuation Vs. 14 BDC Peers (Post Q2 2020 Earnings - Very Attractive Valuation)

More