PennantPark Investment Co. (PNNT) To Go Ex-Dividend on September 15th

PennantPark Investment Co. (NASDAQ:PNNT) declared a monthly dividend on Wednesday, September 2nd. Investors of record on Tuesday, September 15th will be given a dividend of 0.04 per share by the asset manager on Thursday, October 1st. This represents a c) dividend on an annualized basis and a yield of 12.8%. The ex-dividend date of this dividend is Tuesday, September 15th.

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. 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 1.1%

PennantPark Investment stock opened at $3.74 on Friday. The firm has a 50 day simple moving average of $3.53 and a 200 day simple moving average of $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. PennantPark Investment has a 1-year low of $3.19 and a 1-year high of $7.29. The firm has a market capitalization of $244.21 million, a price-to-earnings ratio of 14.39 and a beta of 0.61.

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.