PennantPark Investment Co. (NASDAQ:PNNT) Plans Monthly Dividend of $0.08

PennantPark Investment Co. (NASDAQ:PNNT) announced a monthly dividend on Tuesday, November 4th. Shareholders of record on Monday, November 17th will be given a dividend of 0.08 per share by the asset manager on Monday, December 1st. This represents a c) annualized dividend and a yield of 15.0%. The ex-dividend date is Monday, November 17th.

PennantPark Investment has raised its dividend by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 1 years. PennantPark Investment has a payout ratio of 135.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect PennantPark Investment to earn $0.80 per share next year, which means the company may not be able to cover its $0.96 annual dividend with an expected future payout ratio of 120.0%.

PennantPark Investment Stock Performance

Shares of NASDAQ:PNNT traded down $0.08 on Wednesday, hitting $6.42. 44,052 shares of the company were exchanged, compared to its average volume of 484,873. The company’s 50 day moving average price is $6.76 and its two-hundred day moving average price is $6.84. The firm has a market capitalization of $418.87 million, a price-to-earnings ratio of 24.65 and a beta of 1.00. 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 one year low of $5.72 and a one year high of $7.53.

About PennantPark Investment

PennantPark Investment Corporation, a business development company is a private equity fund specializes in direct and mezzanine investments in middle market companies. It invests in the form of mezzanine debt, senior secured loans, and equity investments. The fund typically invests in buildings and real estate, hotels, gaming and leisure, technology, telecommunications, transportation, information technology services, electronics, healthcare & pharmaceuticals, education and childcare, financial services, printing and publishing, consumer products, business services, energy & Related Services and utilities, distribution, oil and gas, media, environmental services, aerospace and defense, building materials, capital equipment, chemicals, plastics, & rubber, food & beverage, wholesale, manufacturing and basic industries and retail.