PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) declares monthly dividend of $0.10

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) declared a monthly dividend on Wednesday, February 2, Zacks reports. Shareholders of record on Tuesday, February 15 will receive a dividend of 0.095 per share from the asset manager on Tuesday, March 1. This represents an annualized dividend of $1.14 and a dividend yield of 8.71%. The ex-date of this dividend is Monday, February 14.

PennantPark Floating Rate Capital has a dividend payout ratio of 99.1%, indicating that its dividend is currently being covered by earnings, but may not be in the future if earnings from the society decrease. Equity research analysts expect PennantPark Floating Rate Capital to earn $1.15 per share next year, meaning the company should continue to be able to cover its $1.14 annual dividend. $ with an expected future payout ratio of 99.1%.

NASDAQ LTFP opened at $13.09 on Friday. The company has a 50-day simple moving average of $12.89 and a 200-day simple moving average of $13.03. PennantPark Floating Rate Capital has a 52-week low of $11.45 and a 52-week high of $13.92. The company has a market cap of $509.71 million, a price-to-earnings ratio of 8.97, a growth price-to-earnings ratio of 0.29, and a beta of 1.94. The company has a debt ratio of 0.46, a current ratio of 0.12 and a quick ratio of 0.12.

PennantPark Floating Rate Capital (NASDAQ:PFLT) last reported quarterly earnings data on Wednesday, November 17. The asset manager reported earnings per share (EPS) of $0.28 for the quarter, beating the consensus estimate of $0.27 by $0.01. The company posted revenue of $21.62 million for the quarter, versus a consensus estimate of $21.31 million. PennantPark Floating Rate Capital posted a net margin of 68.35% and a return on equity of 8.29%. In the same quarter last year, the company posted earnings per share of $0.27. On average, analysts expect PennantPark Floating Rate Capital to post 1.1 EPS for the current year.

Separately, Zacks Investment Research raised PennantPark’s floating rate capital from a “sell” rating to a “hold” rating in a Thursday, January 20 report.

An institutional investor recently increased his position in the shares of PennantPark Floating Rate Capital. UBS Group AG has increased its stake in the shares of PennantPark Floating Rate Capital Ltd. (NASDAQ: PFLT) by 7.1% during Q3, according to the company in its latest 13F filing with the SEC. The institutional investor held 52,939 shares of the asset manager after purchasing an additional 3,517 shares during the quarter. UBS Group AG held 0.14% of PennantPark Floating Rate Capital worth $677,000 when it last filed with the SEC. 23.52% of the shares are currently held by institutional investors and hedge funds.

PennantPark Capital Floating Rate Company Profile

PennantPark Floating Rate Capital Ltd is a non-diversified, closed-end investment company that invests in small capitalization and mid-market public companies located in the United States and, to a lesser extent, in non-US companies. The fund invests in equity securities such as preferred shares, common shares, warrants or options received through leveraged investments or through direct investments with an investment size of 2 to 20 million dollars.

Further Reading: What is a Growth and Income Fund?

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