PennantPark Investment Co. (NASDAQ:PNNT – Get Free Report) announced a monthly dividend on Tuesday, November 3rd. Shareholders 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 yield of 15.5%. The ex-dividend date of this dividend is Friday, November 13th.
PennantPark Investment has raised its dividend by an average of 0.1% per year over the last three years and has increased its dividend annually for the last 1 consecutive years. PennantPark Investment has a dividend payout ratio of 67.6% indicating that 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 Price Performance
Shares of NASDAQ:PNNT opened at $3.10 on Wednesday. The firm has a market capitalization of $202.09 million, a PE ratio of 11.90 and a beta of 0.65. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.56. The company has a 50-day moving average price of $3.32 and a two-hundred day moving average price of $4.09. PennantPark Investment has a twelve month low of $2.78 and a twelve month high of $6.58.
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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