PennantPark Floating Rate Capital Ltd. to Issue Monthly Dividend of $0.10 (NASDAQ:PFLT)

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) announced a monthly dividend on Monday, January 6th,Wall Street Journal reports. Shareholders of record on Wednesday, January 15th will be paid a dividend of 0.1025 per share by the asset manager on Monday, February 3rd. This represents a $1.23 dividend on an annualized basis and a yield of 11.12%. The ex-dividend date of this dividend is Wednesday, January 15th.

PennantPark Floating Rate Capital has decreased its dividend payment by an average of 35.2% per year over the last three years.

PennantPark Floating Rate Capital Trading Down 0.3 %

Shares of NASDAQ:PFLT traded down $0.03 during midday trading on Monday, hitting $11.06. 855,065 shares of the stock traded hands, compared to its average volume of 823,023. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.63. The business’s 50 day moving average is $11.03 and its two-hundred day moving average is $11.28. The stock has a market capitalization of $920.52 million, a PE ratio of 7.73 and a beta of 1.65. PennantPark Floating Rate Capital has a one year low of $10.28 and a one year high of $12.63.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PFLT shares. Raymond James began coverage on PennantPark Floating Rate Capital in a report on Friday, December 20th. They issued a “market perform” rating for the company. StockNews.com cut shares of PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a report on Tuesday, December 24th.

About PennantPark Floating Rate Capital

PennantPark Floating Rate Capital Ltd. is a business development company. It seeks to make secondary direct, debt, equity, and loan investments. The fund seeks to invest through floating rate loans in private or thinly traded or small market-cap, public middle market companies. It primarily invests in the United States and to a limited extent non-U.S.