PennantPark Investment Co. (NASDAQ:PNNT) Announces $0.04 Monthly Dividend

PennantPark Investment Co. (NASDAQ:PNNT) announced a monthly dividend on Tuesday, August 4th. Stockholders of record on Friday, August 14th will be given a dividend of 0.04 per share by the asset manager on Tuesday, September 1st. This represents a c) annualized dividend and a dividend yield of 13.7%. The ex-dividend date of this dividend is Friday, August 14th.

PennantPark Investment has increased its dividend payment by an average of 0.1%annually 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% indicating that 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 Trading Up 3.1%

NASDAQ:PNNT opened at $3.52 on Wednesday. The stock has a fifty day simple moving average of $3.53 and a 200 day simple moving average of $4.41. The firm has a market capitalization of $229.52 million, a price-to-earnings ratio of 13.52 and a beta of 0.58. PennantPark Investment has a 1-year low of $3.19 and a 1-year high of $7.53. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.56.

About PennantPark Investment

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.