PennantPark Investment Co. (NASDAQ:PNNT) Shareholders to Receive $0.04 Monthly Dividend

PennantPark Investment Co. (NASDAQ:PNNT) announced 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 raised its dividend payment by an average of 0.1% per year 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% indicating that its dividend is sufficiently covered by earnings. 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 Down 0.2%

Shares of NASDAQ PNNT opened at $3.10 on Wednesday. PennantPark Investment has a 1 year low of $2.78 and a 1 year high of $6.58. The firm’s 50-day moving average is $3.32 and its 200-day moving average is $4.09. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $202.09 million, a PE ratio of 11.90 and a beta of 0.65.

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.