In this article, we discuss 5 cheap dividend stocks with over 6% yield. If you want to read our detailed analysis of dividend payments, go directly to read 10 Cheap Dividend Stocks with Over 6% Yield.
5. Prospect Capital Corporation (NASDAQ:PSEC)
Dividend Yield as of June 26: 10.11%
Share Price as of June 26: $7.12
Prospect Capital Corporation (NASDAQ:PSEC) is an American business development company that provides services related to debt and equity investments to middle-market companies across the country. In 2017, the company trimmed its monthly payout by 28% and currently offers a dividend of $0.06 per share every month. The stock’s dividend yield stood at 10.11%, as of June 26.
In fiscal Q3 2022, Prospect Capital Corporation (NASDAQ:PSEC) reported a net investment income of $0.22, which exceeded market estimates by $0.04. The company’s total investment income stood at $181.3 million, up 13.8% from the same period last year. In May, the management paid its 60th consecutive dividend to shareholders.
The number of hedge funds tracked by Insider Monkey owning stakes in Prospect Capital Corporation (NASDAQ:PSEC) stood at 6 in Q1, declining from 9 in the previous quarter. The collective value of these stakes is over $18.4 million. Two Sigma Advisors owned the largest stake in the company in Q1, valued at over $11 million.