Business Context and Reporting Period
Company: Prospect Capital Corp (PSEC)
Filing Type: Form 8-K (Current Report)
Report Date: May 9, 2025
Event Date: May 8, 2025
Context: The filing announces the declaration of monthly cash distributions for common shareholders and various series of preferred stock. It also references the issuance of a press release regarding financial results for the fiscal quarter ended March 31, 2025, though the specific financial data is contained in an exhibit not included in the provided text.
Key Financial Metrics
The provided text does not contain specific values for revenue, profit, cash flow, margins, debt, or liquidity. These metrics are referenced as being included in the press release (Exhibit 99.1) but are not detailed in the body of this 8-K filing.
Material Changes and Dividend Declarations
The primary material event is the declaration of dividends for multiple share classes effective May 8, 2025.
Common Stock Distributions
- Amount: $0.0450 per share per month.
- Coverage Period: May 2025 through August 2025.
- First Payment Date: June 18, 2025 (Record Date: May 28, 2025).
Preferred Stock Dividends
- Floating Rate Preferred Stock: $0.135417 per share monthly (Annualized rate: 6.50% of $25.00 stated value).
- 7.50% Preferred Stock: $0.156250 per share monthly (Annual rate: 7.50% of $25.00 stated value).
- 5.50% Preferred Stock: $0.114583 per share monthly (Annual rate: 5.50% of $25.00 stated value).
- 6.50% Preferred Stock: $0.135417 per share monthly (Annual rate: 6.50% of $25.00 stated value).
- 5.35% Preferred Stock: $0.334375 per share quarterly (Annual rate: 5.35% of $25.00 stated value) for the period May 2025 - July 2025.
Note: Preferred dividends are subject to pro-ration for partial periods where applicable.
Guidance, Outlook, and Risks
The filing text does not provide management commentary, forward-looking guidance, risk factors, or details on contingencies. It strictly serves to disclose the dividend declarations and reference the Q1 2025 results press release.
Investor Verification Checklist
- Q1 2025 Financials: Verify the actual revenue, net income, and book value per share in the referenced press release (Exhibit 99.1), as these are not in the 8-K text.
- Distribution Coverage: Confirm that the declared common distribution of $0.0450 is fully covered by distributable earnings for the quarter.
- Preferred Stock Status: Verify the total outstanding shares for each preferred series to calculate the total cash outflow obligation.
- Record Dates: Ensure portfolio holdings are settled before the specific record dates listed (e.g., May 28, 2025 for common stock) to receive the declared distributions.