PennantPark Investment Co. (PNNT) to Issue Monthly Dividend of $0.08 on July 1st

PennantPark Investment Co. (NASDAQ:PNNT) declared a monthly dividend on Tuesday, June 2nd. Shareholders of record on Monday, June 15th will be given a dividend of 0.08 per share by the asset manager on Wednesday, July 1st. This represents a c) annualized dividend and a yield of 24.7%. The ex-dividend date is Monday, June 15th. This is a 100.0% increase from PennantPark Investment’s previous monthly dividend of $0.04.

PennantPark Investment has increased its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 1 years. PennantPark Investment has a dividend payout ratio of 67.6% meaning its dividend is sufficiently covered by earnings. 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 Stock Performance

PennantPark Investment stock opened at $3.89 on Thursday. 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 fifty day moving average price of $4.36 and a two-hundred day moving average price of $5.19. PennantPark Investment has a 52-week low of $3.61 and a 52-week high of $7.53. The firm has a market capitalization of $253.67 million, a P/E ratio of 14.94 and a beta of 0.57.

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.