PennantPark Floating Rate Capital Ltd. Plans Monthly Dividend of $0.10 (NASDAQ:PFLT)

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT - Get Free Report) announced a monthly dividend on Monday, May 6th, Wall Street Journal reports. Stockholders of record on Wednesday, May 15th will be paid a dividend of 0.1025 per share by the asset manager on Monday, June 3rd. This represents a $1.23 dividend on an annualized basis and a dividend yield of 10.70%. The ex-dividend date is Tuesday, May 14th.

PennantPark Floating Rate Capital has raised its dividend payment by an average of 1.9% per year over the last three years and has raised its dividend annually for the last 1 consecutive years. PennantPark Floating Rate Capital has a dividend payout ratio of 97.6% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings decline. Research analysts expect PennantPark Floating Rate Capital to earn $1.27 per share next year, which means the company should continue to be able to cover its $1.23 annual dividend with an expected future payout ratio of 96.9%.

PennantPark Floating Rate Capital Trading Up 1.1 %

Shares of PFLT stock traded up $0.12 during mid-day trading on Monday, reaching $11.50. The company's stock had a trading volume of 580,244 shares, compared to its average volume of 687,917. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $708.75 million, a PE ratio of 10.27 and a beta of 1.66. The company's 50 day simple moving average is $11.32 and its 200-day simple moving average is $11.32. PennantPark Floating Rate Capital has a 12-month low of $9.69 and a 12-month high of $12.63.

PennantPark Floating Rate Capital (NASDAQ:PFLT - Get Free Report) last posted its earnings results on Wednesday, February 7th. The asset manager reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.31 by $0.02. The business had revenue of $37.97 million during the quarter, compared to analyst estimates of $35.03 million. PennantPark Floating Rate Capital had a return on equity of 11.83% and a net margin of 43.40%. On average, research analysts predict that PennantPark Floating Rate Capital will post 1.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, JMP Securities reaffirmed a "market outperform" rating and set a $12.50 price target on shares of PennantPark Floating Rate Capital in a research note on Tuesday, March 26th.

About PennantPark Floating Rate Capital

PennantPark Floating Rate Capital Ltd. is a business development company. It seeks to make secondary direct, debt, equity, and loan investments. The fund seeks to invest through floating rate loans in private or thinly traded or small market-cap, public middle market companies. It primarily invests in the United States and to a limited extent non-U.S.