Prospect Capital Raises Buyback Authorization to $200 Million

Prospect Capital Corporation’s board approved an additional $100 million for its common-stock repurchase program and declared three monthly distributions, while quarterly results showed lower net investment income and net asset value than a year earlier. Approved Nov. 3, the increase brings the program’s total authorization to $200 million. About $165.86 million remained available on that date. The total authorization sets the overall limit for purchases; it is distinct from the amount remaining available. No shares were repurchased under the program during the quarter ended Sept. 30. The program permits purchases below net asset value per share.

Source: TokenPost