PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) Announces Monthly Dividend of $0.08

Key Points

• PennantPark Floating Rate Capital declared a monthly dividend of $0.08 per share, payable December 1 to shareholders of record November 13. The annualized dividend is $0.96, representing a 14.1% yield.
• The stock opened at $6.80 and traded between a 52-week low of $6.15 and high of $9.75; its 50-day and 200-day moving averages were $6.92 and $7.84, respectively.
• The company’s latest reported quarterly EPS of $0.26 came in just below the $0.27 consensus estimate. Institutional investors own 19.77% of shares, with several firms adding or initiating positions in the second quarter.

PennantPark Floating Rate Capital Ltd. (NYSE:PFLT - Get Free Report) announced a monthly dividend on Tuesday, November 3rd. Shareholders of record on Friday, November 13th will be paid a dividend of $0.08 per share on Tuesday, December 1st. This represents a $0.96 annualized dividend and a yield of 14.1%. The ex-dividend date of this dividend is Friday, November 13th.

PennantPark Floating Rate Capital Stock Performance

PennantPark Floating Rate Capital stock opened at $6.80 on Wednesday. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.94. PennantPark Floating Rate Capital has a 1 year low of $6.15 and a 1 year high of $9.75. The company has a market cap of $675.19 million, a PE ratio of 6.42 and a beta of 0.79. The company's 50-day moving average is $6.92 and its two-hundred day moving average is $7.84.

PennantPark Floating Rate Capital (NYSE:PFLT - Get Free Report) last issued its earnings results on Monday, August 10th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.01). PennantPark Floating Rate Capital had a net margin of 18.53% and a return on equity of 10.24%. The business had revenue of $66.09 million during the quarter. Equities analysts anticipate that PennantPark Floating Rate Capital will post 1.05 earnings per share for the current year.

Hedge Funds Weigh In On PennantPark Floating Rate Capital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc acquired a new position in PennantPark Floating Rate Capital during the second quarter valued at approximately $6,061,000. Van ECK Associates Corp increased its stake in PennantPark Floating Rate Capital by 37.0% in the second quarter. Van ECK Associates Corp now owns 2,473,706 shares of the company's stock valued at $18,503,000 after purchasing an additional 668,394 shares in the last quarter. BlackRock Inc. bought a new stake in PennantPark Floating Rate Capital in the second quarter valued at approximately $2,811,000. NewEdge Wealth LLC bought a new stake in PennantPark Floating Rate Capital in the second quarter valued at approximately $1,261,000. Finally, Bank of America Corp DE acquired a new stake in PennantPark Floating Rate Capital in the second quarter worth $1,228,000. Institutional investors own 19.77% of the company's stock.

About PennantPark Floating Rate Capital

PennantPark Floating Rate Capital Ltd. NYSE: PFLT is a business development company that invests in privately owned, middle-market companies. Its investment portfolio is focused primarily on floating-rate, senior secured loans, particularly first-lien and unitranche debt, although it may also make select junior debt and equity investments.

The company seeks to provide financing to businesses across a range of industries, generally working with companies that may have limited access to traditional bank lending.

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