Prospect Capital’s (PSEC) Payout Shrinks Even As Its Deals Pay Off
Prospect Capital (PSEC) reported a fiscal Q4 net loss of $38.1M, or $0.08 per share, and reduced its dividend. Despite this, the company had successful exits, including a $328M sale of Valley Electric Company with a 20.5% IRR. The portfolio has shifted toward safer investments, with first lien senior secured loans now 72.5% of investments at cost. Net asset value per share fell to $5.71 as of June 30.



