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Jun 30, 2021
Prospect Capital Q4 2021 Earnings Report
Prospect Capital announced its Q4 2021 earnings, featuring a net investment income of $0.19 per share and a 5% increase in net asset value per common share. The company declared stable monthly cash distributions for common and preferred shareholders.
Key Takeaways
Prospect Capital Corporation reported a strong Q4 2021 with net investment income of $73.229 million, equating to $0.19 per common share. Net income attributable to common stockholders was $242.421 million, or $0.62 per share. The company's net asset value (NAV) per common share increased to $9.81. Distributions to common shareholders totaled $69.857 million, or $0.18 per share.
Net Investment Income (NII) for Q4 2021 was $73.229 million ($0.19 per share).
Net income attributable to common stockholders was $242.421 million ($0.62 per share).
Net Asset Value (NAV) per common share increased to $9.81.
The company declared monthly cash distributions of $0.06 per share for September and October 2021.
Revenue by Segment
Forward Guidance
Prospect Capital expects to declare November 2021, December 2021, and January 2022 distributions in November 2021.
Positive Outlook
- Prospect plans to offer $1 billion targeted 5.50% perpetual preferred stock.
- They recently issued $150 million 5.35% listed perpetual preferred stock.
- They intend to increase utilization of their cost-efficient revolving credit facility.
- They plan to retire higher cost liabilities through tender offers and repurchases.
- They aim to issue lower cost notes with coupons of approximately 2.5% to 4.0%.
Challenges Ahead
- Unspecified unknowable future events and conditions are highly likely to affect forward-looking statements.
- Actual developments and results are highly likely to vary materially from any forward-looking statements.
- The company is subject to regulatory requirements under the 1940 Act as well as applicable NASDAQ, federal and state rules and regulations.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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