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Actionable news in PSEC: Prospect Capital Corporation,

Prospect Capital Corporation: This 14% Yielder Had A Good, But Not Great, Quarter

Prospect Capital released Q1-16 earnings on Wednesday.

The company's net investment income and distributable income per share covered the $0.25 per share cumulative dividend.

NAV declined from $10.47 per share last year to $10.17 per share.

The stock now trades at a ~28% discount to Q1-16 net asset value.

Prospect Capital yields 13.59%.

Since Prospect Capital Corporation (NASDAQ:PSEC) is a sizable position in my high-yield income portfolio, I sure pay a lot of attention to the company's earnings releases. And as soon as it reported quarterly results on Wednesday, I immediately dove into the earnings release and looked for three things: 1. The company's net investment income/distributable income; 2. Whether the dividend was covered with by net investment income; 3. What happened to the net asset value.

While the business development company didn't have a stellar first quarter of fiscal 2016, overall it was good enough for me. In the quarter, Prospect Capital said it had a net...


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