PennantPark Floating Rate Capital Ltd. Declares Monthly Dividend of $0.10 (NYSE:PFLT)

PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) declared a monthly dividend on Tuesday, March 3rd. Shareholders of record on Monday, March 16th will be given a dividend of 0.1025 per share on Wednesday, April 1st. This represents a c) dividend on an annualized basis and a dividend yield of 14.7%. The ex-dividend date of this dividend is Monday, March 16th.

PennantPark Floating Rate Capital has increased its dividend payment by an average of 0.0%per year over the last three years.

PennantPark Floating Rate Capital Trading Up 1.6%

Shares of PFLT traded up $0.13 during trading hours on Wednesday, reaching $8.35. 314,813 shares of the stock traded hands, compared to its average volume of 1,219,377. The company has a market capitalization of $828.49 million, a P/E ratio of 24.56 and a beta of 0.77. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.15 and a current ratio of 0.15. The company’s 50-day simple moving average is $9.13. PennantPark Floating Rate Capital has a 52-week low of $7.97 and a 52-week high of $11.46.

PennantPark Floating Rate Capital (NYSE:PFLT) last posted its quarterly earnings results on Monday, February 9th. The company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.03). The business had revenue of $12.72 million for the quarter. PennantPark Floating Rate Capital had a net margin of 13.03% and a return on equity of 9.72%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PennantPark Floating Rate Capital in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $10.50.

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. companies. The fund typically invests between $2 million and $20 million. The fund also invests in equity securities, such as preferred stock, common stock, warrants or options received in connection with debt investments or through direct investments.