5 Cheap Dividend Stocks with Over 6% Yield

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 60^th 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.