PennantPark Floating Rate Capital Ltd. to Issue Monthly Dividend of $0.10 (NASDAQ:PFLT)

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) announced a monthly dividend on Monday, May 6th, Wall Street Journal reports. Investors of record on Wednesday, May 15th will be paid a dividend of 0.1025 per share by the asset manager on Monday, June 3rd. This represents a $1.23 dividend on an annualized basis and a yield of 10.70%. The ex-dividend date of this dividend is Tuesday, May 14th.

PennantPark Floating Rate Capital has raised its dividend by an average of 1.9% annually over the last three years and has raised its dividend every year for the last 1 years. PennantPark Floating Rate Capital has a dividend payout ratio of 97.6% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect PennantPark Floating Rate Capital to earn $1.27 per share next year, which means the company should continue to be able to cover its $1.23 annual dividend with an expected future payout ratio of 96.9%.

PennantPark Floating Rate Capital Stock Up 1.1 %

PFLT opened at $11.50 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.19 and a quick ratio of 0.19. PennantPark Floating Rate Capital has a 12 month low of $9.69 and a 12 month high of $12.63. The stock has a market capitalization of $708.75 million, a P/E ratio of 10.27 and a beta of 1.66. The business has a 50 day simple moving average of $11.32 and a 200-day simple moving average of $11.32.

PennantPark Floating Rate Capital (NASDAQ:PFLT) last released its quarterly earnings data on Wednesday, February 7th. The asset manager reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. The firm had revenue of $37.97 million for the quarter, compared to the consensus estimate of $35.03 million. PennantPark Floating Rate Capital had a net margin of 43.40% and a return on equity of 11.83%. On average, equities analysts anticipate that PennantPark Floating Rate Capital will post 1.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, JMP Securities reissued a “market outperform” rating and issued a $12.50 price target on shares of PennantPark Floating Rate Capital in a report on Tuesday, March 26th.

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.