PennantPark Investment Co. Declares Monthly Dividend of $0.04 (NASDAQ:PNNT)

PennantPark Investment Co. (NASDAQ:PNNT) declared a monthly dividend on Wednesday, September 2nd. Shareholders of record on Tuesday, September 15th will be given a dividend of 0.04 per share by the asset manager on Thursday, October 1st. This represents a c) annualized dividend and a yield of 13.0%. The ex-dividend date is Tuesday, September 15th.

PennantPark Investment has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 1 consecutive years. PennantPark Investment has a payout ratio of 67.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect PennantPark Investment to earn $0.80 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 60.0%.

PennantPark Investment Price Performance

Shares of PNNT opened at $3.69 on Thursday. The stock has a market cap of $241.27 million, a P/E ratio of 14.21 and a beta of 0.61. PennantPark Investment has a 1 year low of $3.19 and a 1 year high of $7.29. The stock’s 50-day moving average price is $3.52 and its two-hundred day moving average price is $4.10. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.56.

PennantPark Investment Company Profile

PennantPark Investment Corporation is a publicly traded closed-end management investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940. Since its formation in 2006, PennantPark has focused on providing customized financing solutions to middle-market companies across the United States. The firm’s investment advisory services are provided by PennantPark Investment Advisers, LLC, which sources and structures transactions tailored to the unique needs of its portfolio companies.

The company’s core strategy centers on debt and equity investments in U.S.-based businesses, typically those with annual revenues between $10 million and $200 million.