Business Context and Reporting Period
Company: Prospect Capital Corporation (PSEC)
Filing Type: Form 8-K (Current Report)
Date of Report: August 28, 2024
Context: This filing announces the declaration of monthly cash distributions to common shareholders and various classes of preferred shareholders. It also references the issuance of a press release (Exhibit 99.1) containing financial results for the fiscal year ended June 30, 2024.
Key Financial Metrics and Distributions
The filing details specific dividend and distribution declarations but does not contain the full financial statements (revenue, profit, cash flow, debt, or liquidity metrics) within the text of the 8-K itself; those figures are located in the referenced press release.
Common Stock Distributions
- September 2024: $0.0600 per share (Record: 9/26/2024, Payment: 10/22/2024)
- October 2024: $0.0600 per share (Record: 10/29/2024, Payment: 11/19/2024)
Preferred Stock Distributions
- Floating Rate Preferred Stock: $0.151584 per share monthly (Annualized rate: 7.27601% of $25.00 stated value). Declared for Sept, Oct, and Nov 2024.
- 5.50% Preferred Stock: $0.114583 per share monthly (Annual rate: 5.50% of $25.00 stated value). Declared for Sept, Oct, and Nov 2024.
- 6.50% Preferred Stock: $0.135417 per share monthly (Annual rate: 6.50% of $25.00 stated value). Declared for Sept, Oct, and Nov 2024.
- 5.35% Series A Preferred Stock: $0.334375 per share quarterly (Annual rate: 5.35% of $25.00 stated value). Declared for the period August 2024 - October 2024 (Payment: 11/1/2024).
Material Changes
The filing does not explicitly detail material changes in financial condition or operations compared to prior periods. It serves primarily as a notification of the dividend declarations and the release of the fiscal year 2024 results.
Guidance, Outlook, and Risks
Management Commentary: The filing incorporates by reference a press release regarding fiscal year 2024 results but does not include specific management commentary, forward-looking guidance, or risk factors within the body of this 8-K text.
Regulatory Note: Information disclosed under Item 2.02 (Results of Operations) is furnished and not deemed "filed" for purposes of Section 18 of the Exchange Act, nor incorporated by reference into Securities Act filings unless expressly stated.
Investor Verification Checklist
- Review Exhibit 99.1: Verify the actual revenue, net income, and portfolio yield figures for the fiscal year ended June 30, 2024, as they are not listed in this summary text.
- Confirm Liquidity: Check the press release for details on the company's ability to fund the declared distributions given current cash flow and debt obligations.
- Preferred Stock Rates: Note that the Floating Rate Preferred Stock dividend is based on a variable rate (7.27601% at declaration) which may fluctuate in future periods.
- Payment Dates: Verify the specific record and payment dates for each class of stock to ensure eligibility for the declared distributions.