PennantPark Investment Co. (NASDAQ:PNNT) Declares $0.04 Special Dividend

Key Points

• PennantPark declared a $0.04 special dividend per share, with the record and ex-dividend date on March 16 and payment scheduled for April 1.
• The company’s dividend appears covered by earnings — it has a 67.6% payout ratio, a $0.48 annual dividend, and analysts expect ~$0.80 EPS next year (implying an expected payout ratio near 60%).
• PennantPark shares recently traded around $4.66, with a market cap of $303.95 million, a P/E of 17.9, and a one-year trading range of $4.63–$7.53.

PennantPark Investment Co. (NASDAQ:PNNT - Get Free Report) declared a special dividend on Tuesday, March 3rd. Investors of record on Monday, March 16th will be paid a dividend of 0.04 per share by the asset manager on Wednesday, April 1st. This represents a yield of 984.0%. The ex-dividend date of this dividend is Monday, March 16th.

PennantPark Investment has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 1 years. PennantPark Investment has a dividend payout ratio of 67.6% meaning 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 Stock Up 0.1%

PNNT opened at $4.66 on Friday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.47 and a current ratio of 0.47. The company has a market cap of $303.95 million, a price-to-earnings ratio of 17.90 and a beta of 0.65. PennantPark Investment has a one year low of $4.63 and a one year high of $7.53. The business's fifty day moving average is $5.49 and its two-hundred day moving average is $6.12.

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.

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