PennantPark Investment Co. Plans Monthly Dividend of $0.08 (NASDAQ:PNNT)

PennantPark Investment Co. (NASDAQ:PNNT) announced a monthly dividend on Tuesday, December 2nd. Investors of record on Monday, December 15th will be given a dividend of 0.08 per share by the asset manager on Friday, January 2nd. This represents a c) dividend on an annualized basis and a yield of 16.7%. The ex-dividend date is Monday, December 15th.

PennantPark Investment has increased its dividend by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 1 consecutive years. PennantPark Investment has a dividend payout ratio of 135.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect PennantPark Investment to earn $0.80 per share next year, which means the company may not be able to cover its $0.96 annual dividend with an expected future payout ratio of 120.0%.

PennantPark Investment Price Performance

NASDAQ PNNT traded down $0.04 during trading on Wednesday, reaching $5.74. 448,144 shares of the company traded hands, compared to its average volume of 509,928. PennantPark Investment has a 1-year low of $5.66 and a 1-year high of $7.53. The company has a market cap of $374.47 million, a price-to-earnings ratio of 22.10 and a beta of 0.97. The stock’s 50 day moving average price is $6.43 and its two-hundred day moving average price is $6.80. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.47 and a current ratio of 0.47.

About PennantPark Investment

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.