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Prospect Capital Announces Financial Results for Fiscal March 2025 Quarter
Prospect Capital Announces Financial Results for Fiscal March 2025 Quarter
About this update from Prospect Capital Corporation
[{"type":"text","content":"NEW YORK, May 08, 2025 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (NASDAQ: PSEC) (“Prospect”, “our”, or “we”) today announced financial results for our fiscal quarter ended March 31, 2025. FINANCIAL RESULTS All amounts in $000’s except per share amounts (on weighted average basis for period numbers)Quarter EndedMarch 31, 2025Quarter EndedDecember 31, 2024Quarter EndedMarch 31, 2024 Net Investment Income (“NII”)$83,489$86,431$94,375NII per Common Share$0.19$0.20$0.23Interest as % of Total Investment Income93.3%91.0%91.0% Net Income (Loss) Applicable to Common Shareholders$(171,331)$(30,993)$113,891Net Income (Loss) per Common Share$(0.39)$(0.07)$0.27 Distributions to Common Shareholders$59,966$65,554$74,685Distributions per Common Share$0.135$0.15$0.18Cumulative Paid and Declared Distributions to Common Shareholders(1)$4,527,079$4,445,060$4,263,149Cumulative Paid and Declared Distributions per Common Share(1)$21.57$21.39$21.00Multiple of Net Asset Value (“NAV”) per Common Share(1)3.0x2.7x2.3x Total Assets$6,996,312$7,234,855$7,905,794Total Liabilities$2,118,522$2,164,305$2,603,811Preferred Stock$1,632,426$1,630,514$1,559,764Net Asset Value (“NAV”) to Common Shareholders$3,245,364$3,440,036$3,742,219NAV per Common Share$7.25$7.84$8.99 Balance Sheet Cash + Undrawn Revolving Credit Facility Commitments$1,716,035$1,879,738$1,101,604 Net of Cash Debt to Total Assets28.7%28.1%31.2%Net of Cash Debt to Equity Ratio(2)40.8%39.8%46.2%Net of Cash Asset Coverage of Debt Ratio(2)345%351%316% Unsecured Debt + Preferred Equity as % of Total Debt + Preferred Equity87.5%91.9%77.7%Unsecured and Non-Recourse Debt as % of Total Debt100.0%100.0%100.0% (1)Declared dividends are through the August 2025 distribution. May through August 2025 distributions are estimated based on shares outstanding as of 5/7/2025.(2)Including our preferred stock as equity. CASH COMMON SHAREHOLDER DISTRIBUTION DECLARATION Prospect is declaring distributions to common shareholders as follows: Monthly Cash Common Shareholder DistributionRecord DatePayment DateAmount ($ per share)May 20255/28/20256/18/2025$0.0450June 20256/26/20257/22/2025$0.0450July 20257/29/20258/20/2025$0.0450August 20258/27/20259/18/2025$0.0450 Prospect expects to declare September 2025 and October 2025 distributions to common shareholders in August 2025. Taking into account past distributions and ou...