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Prospect Capital Announces Financial Results for Fiscal December 2024 Quarter
Prospect Capital Announces Financial Results for Fiscal December 2024 Quarter
About this update from Prospect Capital Corporation
[{"type":"text","content":"NEW YORK, Feb. 10, 2025 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (NASDAQ: PSEC) (“Prospect”, “our”, or “we”) today announced financial results for our fiscal quarter ended December 31, 2024. FINANCIAL RESULTS All amounts in $000’s except per share amounts (on weighted average basis for period numbers)Quarter EndedQuarter EndedQuarter EndedDecember 31, 2024September 30, 2024December 31, 2023 Net Investment Income (“NII”)$86,431$89,877$96,927NII per Common Share$0.20$0.21$0.24Interest as % of Total Investment Income91.0%94.0%92.3% Net Income (Loss) Applicable to Common Shareholders$(30,993)$(165,069)$(51,436)Net Income (Loss) per Common Share$(0.07)$(0.38)$(0.13) Distributions to Common Shareholders$65,554$77,358$74,056Distributions per Common Share$0.15$0.18$0.18Cumulative Paid and Declared Distributions to Common Shareholders(1)$4,445,060$4,384,924$4,162,509Cumulative Paid and Declared Distributions per Common Share(1)$21.39$21.25$20.76Multiple of Net Asset Value (“NAV”) per Common Share(1)2.7x2.6x2.3x Total Assets$7,234,855$7,592,705$7,781,214Total Liabilities$2,164,305$2,469,590$2,596,824Preferred Stock$1,630,514$1,612,302$1,500,741Net Asset Value (“NAV”) to Common Shareholders$3,440,036$3,510,813$3,683,649NAV per Common Share$7.84$8.10$8.92 Balance Sheet Cash + Undrawn Revolving Credit Facility Commitments$1,879,738$1,631,291$1,187,740 Net of Cash Debt to Total Assets28.1%29.7%31.2%Net of Cash Debt to Equity Ratio(2)39.8%43.7%46.2%Net of Cash Asset Coverage of Debt Ratio(2)351%329%316% Unsecured Debt + Preferred Equity as % of Total Debt + Preferred Equity91.9%86.0%78.4%Unsecured and Non-Recourse Debt as % of Total Debt100.0%100.0%100.0% (1)Declared dividends are through the April 2025 distribution. February through April 2025 distributions are estimated based on shares outstanding as of 2/7/2025.(2) Including our preferred stock as equity. CASH COMMON SHAREHOLDER DISTRIBUTION DECLARATION Prospect is declaring distributions to common shareholders as follows: Monthly Cash Common Shareholder DistributionRecord DatePayment DateAmount ($ per share)February 20252/26/20253/20/2025$0.0450March 20253/27/20254/17/2025$0.0450April 20254/28/20255/20/2025$0.0450 Prospect expects to declare May 2025, June 2025, July 2025, and August 2025 distributions to common shareholders in May 2025. Taking into account past distributions and o...