PennantPark Investment Co. (PNNT) To Go Ex-Dividend on March 16th

PennantPark Investment Co. (NASDAQ:PNNT) announced a special dividend on Tuesday, March 3rd. Investors of record on Monday, March 16th will be paid a dividend of 0.04 per share by the asset manager on Wednesday, April 1st. This represents a yield of 984.0%. The ex-dividend date is Monday, March 16th.

PennantPark Investment has raised its dividend by an average of 0.1%per year over the last three years and has raised 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. Equities 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 Up 0.1%

Shares of PNNT stock traded up $0.01 during mid-day trading on Friday, hitting $4.66. 585,006 shares of the stock traded hands, compared to its average volume of 747,242. PennantPark Investment has a 52-week low of $4.63 and a 52-week high of $7.53. The stock has a market cap of $303.95 million, a P/E ratio of 17.90 and a beta of 0.65. 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’s fifty day moving average is $5.49 and its two-hundred day moving average is $6.12.

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.