PennantPark Investment Co. (NASDAQ:PNNT – Get Free Report) declared a monthly dividend on Tuesday, November 3rd. Stockholders of record on Friday, November 13th will be given a dividend of $0.04 per share by the asset manager on Tuesday, December 1st. This represents a $0.48 annualized dividend and a dividend yield of 15.5%. The ex-dividend date is Friday, November 13th.
PennantPark Investment has increased its dividend payment 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 Trading Down 0.2%
PennantPark Investment stock opened at $3.10 on Wednesday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.47 and a current ratio of 0.47. PennantPark Investment has a fifty-two week low of $2.78 and a fifty-two week high of $6.58. The stock has a market cap of $202.09 million, a P/E ratio of 11.90 and a beta of 0.65. The firm’s fifty day moving average price is $3.32 and its 200-day moving average price is $4.09.
PennantPark Investment Company Profile
PennantPark Investment Corporation (NASDAQ: PNNT) is a business development company that provides financing to middle-market businesses. The company primarily invests in privately negotiated transactions involving established companies, seeking to generate income and, to a lesser extent, capital appreciation.
Its investment portfolio generally includes senior secured loans, subordinated debt and equity investments. PennantPark Investment may provide financing for acquisitions, recapitalizations, refinancing, growth initiatives and other corporate purposes.
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