PennantPark Floating Rate Capital Ltd. (PFLT) to Issue Monthly Dividend of $0.10 on February 2nd

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) declared a monthly dividend on Monday, January 5th. Shareholders of record on Friday, January 16th will be paid a dividend of 0.1025 per share by the asset manager on Monday, February 2nd. This represents a c) annualized dividend and a dividend yield of 12.9%. The ex-dividend date is Friday, January 16th.

PennantPark Floating Rate Capital has raised its dividend payment by an average of 0.0%per year over the last three years.

PennantPark Floating Rate Capital Stock Performance

PennantPark Floating Rate Capital stock opened at $9.53 on Wednesday. PennantPark Floating Rate Capital has a fifty-two week low of $8.40 and a fifty-two week high of $11.50. The firm’s 50 day simple moving average is $9.25 and its 200-day simple moving average is $9.66. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.15 and a quick ratio of 0.15. The company has a market cap of $945.05 million, a P/E ratio of 6.80 and a beta of 0.75.

Hedge Funds Weigh In On PennantPark Floating Rate Capital

A number of hedge funds have recently modified their holdings of the stock. Allworth Financial LP boosted its position in PennantPark Floating Rate Capital by 1,603.7% during the second quarter. Allworth Financial LP now owns 2,777 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 2,614 shares during the last quarter. Quarry LP purchased a new stake in shares of PennantPark Floating Rate Capital during the 3rd quarter worth about $36,000. State of Alaska Department of Revenue acquired a new stake in shares of PennantPark Floating Rate Capital during the 3rd quarter valued at about $41,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of PennantPark Floating Rate Capital in the 2nd quarter valued at approximately $41,000. Finally, Global Retirement Partners LLC grew its stake in shares of PennantPark Floating Rate Capital by 32.1% in the 3rd quarter. Global Retirement Partners LLC now owns 5,188 shares of the asset manager’s stock valued at $46,000 after buying an additional 1,260 shares in the last quarter. 19.77% of the stock is owned by institutional investors and hedge funds.

About PennantPark Floating Rate Capital

PennantPark Floating Rate Capital, Inc (NASDAQ: PFLT) is a closed-end management investment company organized as a business development company (BDC) under the Investment Company Act of 1940. The firm’s primary objective is to generate current income and, secondarily, capital appreciation for its shareholders through debt and equity investments in middle-market companies. PennantPark Floating Rate Capital focuses on floating-rate instruments to help mitigate interest-rate risk and align cash flows with its dividend strategy.

The company’s portfolio is concentrated in senior secured loans, second-lien debt, mezzanine securities and, from time to time, equity investments.