PennantPark Investment Co. to Issue Monthly Dividend of $0.08 (NASDAQ:PNNT)

PennantPark Investment Co. (NASDAQ:PNNT) announced a monthly dividend on Tuesday, February 3rd. Investors of record on Tuesday, February 17th will be paid a dividend of 0.08 per share by the asset manager on Monday, March 2nd. This represents a c) dividend on an annualized basis and a yield of 16.8%. The ex-dividend date is Tuesday, February 17th.

PennantPark Investment has increased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 1 consecutive years. PennantPark Investment has a payout ratio of 135.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect PennantPark Investment to earn $0.80 per share next year, which means the company may not be able to cover its $0.96 annual dividend with an expected future payout ratio of 120.0%.

PennantPark Investment Trading Up 1.0%

PNNT traded up $0.06 during trading on Wednesday, hitting $5.72. The company’s stock had a trading volume of 283,491 shares, compared to its average volume of 600,363. PennantPark Investment has a twelve month low of $5.63 and a twelve month high of $7.53. The firm’s 50 day moving average price is $5.94 and its 200-day moving average price is $6.52. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.47 and a quick ratio of 0.47. The stock has a market cap of $373.17 million, a PE ratio of 21.98 and a beta of 0.61.

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.