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Jun 30, 2024
Prospect Capital Q4 2024 Earnings Report
Prospect Capital reported mixed results for Q4 2024, with a net loss but a continued streak of dividend distributions.
Key Takeaways
Prospect Capital Corporation announced financial results for the fiscal quarter and year ended June 30, 2024. The company reported a net investment income of $102.922 million, or $0.25 per share, but a net loss applicable to common shareholders of $9.050 million, or $(0.02) per share. Despite the net loss, Prospect Capital declared its 86th consecutive $0.06 per share dividend. The company highlighted its long history, downside protection focus, multi-line BDC strategy, and track record of investments and distributions.
Net investment income was $102.922 million, or $0.25 per share.
Net loss applicable to common shareholders was $9.050 million, or $(0.02) per share.
Distributions to common shareholders totaled $75.640 million, or $0.18 per share.
Total assets stood at $7.857 billion.
Prospect Capital
Prospect Capital
Prospect Capital Revenue by Segment
Revenue by Segment
Interest Income Revenue
CapyFin.comDividend Income Revenue
CapyFin.comOther Income Revenue
CapyFin.com Forward Guidance
Prospect expects to declare November 2024, December 2024 and January 2025 distributions to common shareholders in November 2024.
Positive Outlook
- Targeted 6.50% and Floating Rate perpetual preferred stock offerings.
- Greater utilization of cost efficient revolving floating rate credit facility.
- Elevated short-term SOFR rates which boost asset yields.
- Optimization of portfolio company performance.
- Increased primary and secondary originations of senior secured debt and selected equity investments targeting attractive risk-adjusted yields and total returns as we deploy dry powder from our underleveraged balance sheet.