PennantPark Investment Co. (NASDAQ:PNNT) Announces $0.07 Monthly Dividend

PennantPark Investment Co. (NASDAQ:PNNT - Get Free Report) announced a monthly dividend on Monday, May 6th, Wall Street Journal reports. Investors of record on Wednesday, May 15th will be given a dividend of 0.07 per share by the asset manager on Monday, June 3rd. This represents a $0.84 annualized dividend and a yield of 11.71%. The ex-dividend date is Tuesday, May 14th.

PennantPark Investment has increased its dividend by an average of 14.2% per year over the last three years. PennantPark Investment has a dividend payout ratio of 91.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. Equities research analysts expect PennantPark Investment to earn $0.91 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 92.3%.

PennantPark Investment Stock Performance

Shares of NASDAQ:PNNT traded up $0.13 during trading on Monday, hitting $7.18. 480,308 shares of the company traded hands, compared to its average volume of 429,798. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.39. The business's fifty day moving average is $6.87 and its 200-day moving average is $6.75. The stock has a market capitalization of $467.95 million, a price-to-earnings ratio of 9.70 and a beta of 1.49. PennantPark Investment has a one year low of $4.87 and a one year high of $7.27.

PennantPark Investment (NASDAQ:PNNT - Get Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The asset manager reported $0.24 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. The firm had revenue of $34.34 million during the quarter, compared to the consensus estimate of $32.49 million. PennantPark Investment had a return on equity of 14.17% and a net margin of 32.55%. As a group, equities analysts predict that PennantPark Investment will post 0.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In other PennantPark Investment news, Director Jose A. Briones acquired 7,450 shares of the firm's stock in a transaction that occurred on Friday, February 9th. The stock was acquired at an average cost of $6.70 per share, with a total value of $49,915.00. Following the acquisition, the director now directly owns 251,735 shares of the company's stock, valued at approximately $1,686,624.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Jose A. Briones bought 7,450 shares of the firm's stock in a transaction that occurred on Friday, February 9th. The stock was purchased at an average price of $6.70 per share, for a total transaction of $49,915.00. Following the transaction, the director now directly owns 251,735 shares of the company's stock, valued at approximately $1,686,624.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jose A. Briones purchased 6,122 shares of the company's stock in a transaction on Monday, February 26th. The shares were bought at an average price of $6.86 per share, for a total transaction of $41,996.92. Following the completion of the transaction, the director now directly owns 261,657 shares in the company, valued at approximately $1,794,967.02. The disclosure for this purchase can be found here. Insiders have bought a total of 22,372 shares of company stock valued at $151,258 in the last quarter. Company insiders own 3.00% of the company's stock.

PennantPark Investment Company Profile

PennantPark Investment Corporation, a business development company is a private equity fund specializes in direct and mezzanine investments in middle market companies. It invests in the form of mezzanine debt, senior secured loans, and equity investments. The fund typically invests in buildings and real estate, hotels, gaming and leisure, technology, telecommunications, transportation, information technology services, electronics, healthcare & pharmaceuticals, education and childcare, financial services, printing and publishing, consumer products, business services, energy & Related Services and utilities, distribution, oil and gas, media, environmental services, aerospace and defense, building materials, capital equipment, chemicals, plastics, & rubber, food & beverage, wholesale, manufacturing and basic industries and retail.