More on Prospect Capital results

Net increase in net assets resulting from operations (NI) of $0.30 per share compares to $0.24 a year ago. Net investment income of $0.32 per share falls from $0.51 per share a year ago which included significant non-recurring dividend income.

Net asset value per share of $10.73 is up $0.01 from Q3.

Debt to equity ratio slips to 48% from 53.7% in Q3.

Portfolio investments of $607.66M during Q brings total to $4.976B and number of companies to 130. Annualized current yield os 12.9%.

FQ3 NII guidance of $0.28-$0.33 per share.

CC tomorrow at 11ET

PSEC flat AH

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Comments (8)
  • mostserene1
    , contributor
    Comments (3697) | Send Message
    Think of PSEC as a bond paying a 12% dividend, with monthly payouts, and you will be happy. If you want growth, look elsewhere.
    3 Feb 2014, 05:12 PM Reply Like
  • chellappan
    , contributor
    Comments (6) | Send Message
    Well said.


    Wait for a good entry point.
    3 Feb 2014, 05:46 PM Reply Like
  • cynnabenn
    , contributor
    Comments (13) | Send Message
    Thanks Serene1, I agree. Love that monthly dividend! And now that the price has dipped below $11, I get to buy more and reduce my cost average further, while increasing my reinvested monthly dividend which adds to my position.
    Very grateful to be long PSEC
    3 Feb 2014, 05:56 PM Reply Like
  • rvshaw
    , contributor
    Comments (117) | Send Message
    And $10.73 is a "blue light special"
    4 Feb 2014, 08:17 AM Reply Like
  • kolpin
    , contributor
    Comments (1383) | Send Message
    how are BDCs like PSEC conservative bond substitutes? not only is the nature of their business speculative, but just look at the price volatility over a longer historical period. Just because PSEC had relatively flat price performance over the past 2 years, does not mean it will continue to do so.


    I'm long MAIN and TCAP, but these are decidedly not safe bond-like investments. the health of BDCs depends on a growing economy---when we hit a recession again someday, the bottom will drop out of these stocks.
    3 Feb 2014, 06:18 PM Reply Like
  • Smeado
    , contributor
    Comments (13) | Send Message
    Been a scary week. Was hoping PSEC would've held up a little better.
    3 Feb 2014, 06:25 PM Reply Like
  • rasanders22
    , contributor
    Comments (612) | Send Message
    I've been DRIPing for over a year. My YOC is about 13.5% currently.
    3 Feb 2014, 06:59 PM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (9070) | Send Message
    When interest rates finally aim higher even a small bit... will (PSEC) drop permanently... or temporarily? I'm long but don't know the past history well. In at $10.75.
    3 Feb 2014, 11:00 PM Reply Like
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