PennantPark Investment Co. (PNNT) to Issue Monthly Dividend of $0.07 on June 3rd

PennantPark Investment Co. (NASDAQ:PNNT) announced a monthly dividend on Monday, May 6th, Wall Street Journal reports. Shareholders 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 dividend on an annualized basis and a yield of 11.72%. The ex-dividend date of this dividend 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 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 fall. 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 Price Performance

NASDAQ:PNNT opened at $7.17 on Wednesday. PennantPark Investment has a one year low of $4.87 and a one year high of $7.27. The stock has a market cap of $467.30 million, a PE ratio of 9.68 and a beta of 1.49. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a 50 day moving average price of $6.88 and a 200 day moving average price of $6.76.

PennantPark Investment (NASDAQ:PNNT) last issued its earnings results on Wednesday, February 7th. The asset manager reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The business 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%. Equities research analysts expect that PennantPark Investment will post 0.94 EPS for the current fiscal year.

Insider Activity

In other news, Director Jose A. Briones purchased 7,450 shares of the stock in a transaction dated Friday, February 9th. The shares were purchased at an average price of $6.70 per share, with a total value of $49,915.00. Following the transaction, the director now owns 251,735 shares in the company, valued at approximately $1,686,624.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Jose A. Briones bought 3,800 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were bought at an average price of $6.67 per share, with a total value of $25,346.00. Following the completion of the transaction, the director now directly owns 255,535 shares in the company, valued at $1,704,418.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jose A. Briones purchased 7,450 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were purchased at an average price of $6.70 per share, for a total transaction of $49,915.00. Following the completion of the purchase, the director now directly owns 251,735 shares of the company’s stock, valued at $1,686,624.50. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 22,372 shares of company stock valued at $151,258. 3.00% of the stock is currently owned by insiders.

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.