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

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLTGet Free Report) declared a monthly dividend on Thursday, May 2nd, Wall Street Journal reports. Shareholders of record on Wednesday, May 15th will be given a dividend of 0.1025 per share by the asset manager on Monday, June 3rd. This represents a $1.23 annualized dividend and a yield of 10.69%. The ex-dividend date of this dividend is Tuesday, May 14th.

PennantPark Floating Rate Capital has increased its dividend payment by an average of 1.9% annually over the last three years and has increased its dividend every year for the last 1 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 fall. Research analysts expect PennantPark Floating Rate Capital to earn $1.31 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 93.9%.

PennantPark Floating Rate Capital Stock Performance

PFLT stock remained flat at $11.51 during midday trading on Monday. The company had a trading volume of 470,794 shares, compared to its average volume of 707,523. PennantPark Floating Rate Capital has a 52-week low of $9.69 and a 52-week high of $12.63. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.71. The stock’s 50 day simple moving average is $11.33 and its 200-day simple moving average is $11.36. The firm has a market capitalization of $768.04 million, a price-to-earnings ratio of 7.78 and a beta of 1.66.

Wall Street Analysts Forecast Growth

Separately, JMP Securities reissued a “market outperform” rating and issued a $12.50 price target on shares of PennantPark Floating Rate Capital in a research report on Tuesday, March 26th.

View Our Latest Stock Analysis on PFLT

About PennantPark Floating Rate Capital

(Get Free Report)

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.

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Dividend History for PennantPark Floating Rate Capital (NASDAQ:PFLT)

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