Prospect Capital Declares its 98th and 99th Consecutive Cash Distributions to Shareholders, Exceeding $2.0 Billion in Cumulat...
August 25 2016 - 4:55PM
Prospect Capital Corporation (NASDAQ:PSEC) (“Prospect”) announced
today 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 2016 (record date of
September 30, 2016 and payment date of October 20, 2016); and
8.333 cents per share for October 2016 (record date of October
31, 2016 and payment date of November 17, 2016).
These distributions mark Prospect’s 98th and
99th consecutive cash distributions to shareholders.
Prospect’s closing stock price of $8.45 as of
August 24, 2016 delivers to shareholders a current dividend yield
of 11.8%.
Based on past distributions and assuming its
current share count for upcoming distributions, Prospect since
inception through its October 2016 distribution will have
distributed $15.12 per share to original shareholders, exceeding
$2.0 billion in cumulative distributions to all shareholders.
Prospect expects to declare its November 2016,
December 2016 and January 2017 distributions in November 2016.
ABOUT PROSPECT CAPITAL
CORPORATION
Prospect Capital Corporation
(www.prospectstreet.com) is a business development company that
focuses on lending to and investing in private businesses. Our
investment objective is to generate both current income and
long-term capital appreciation through debt and equity
investments.
We have elected to be treated as a business
development company under the Investment Company Act of 1940 (“1940
Act”). We are required to comply with a series of regulatory
requirements under the 1940 Act as well as applicable NASDAQ,
federal and state rules and regulations. We have elected to be
treated as a regulated investment company under the Internal
Revenue Code of 1986. Failure to comply with any of the laws and
regulations that apply to us could have an adverse effect on us and
our shareholders.
This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995, whose safe harbor for forward-looking
statements does not apply to business development companies. Any
such statements, other than statements of historical fact, are
highly likely to be affected by other unknowable future events and
conditions, including elements of the future that are or are not
under our control, and that we may or may not have considered;
accordingly, such statements cannot be guarantees or assurances of
any aspect of future performance. Actual developments and results
are highly likely to vary materially from any forward-looking
statements. Such statements speak only as of the time when made,
and we undertake no obligation to update any such statement now or
in the future.
For additional information, contact:
Grier Eliasek, President and Chief Operating Officer
grier@prospectstreet.com
Telephone (212) 448-0702
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