Usually, income investors tend to stay away from companies that have cut their dividends before. The concern is that if management has reduced the payout in the past, they probably wouldn’t be shy about doing it again. If you have been following the markets, you would know that as valuations got bloated, dividend yields have been subdued. And that brings us to the most obvious reason to like this specialty finance company—dividend yield...
Still, you might want to make an exception for Prospect Capital Corporation (NASDAQ:PSEC). Prospect Capital Corporation is a business development company founded in 2004. Headquartered in New York City, the company provides financing solutions primarily to middle-market businesses in the U.S. It focuses on sponsor-backed transactions and direct lending to established owner-operated companies.
Source: Income Investors
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