PennantPark Investment Co. (NASDAQ:PNNT) Raises Dividend to $0.08 Per Share

PennantPark Investment Co. (NASDAQ:PNNT) announced a monthly dividend on Tuesday, June 2nd. Stockholders of record on Monday, June 15th will be paid a dividend of 0.08 per share by the asset manager on Wednesday, July 1st. This represents a c) dividend on an annualized basis and a dividend yield of 24.3%. The ex-dividend date of this dividend is Monday, June 15th. This is a 100.0% increase from PennantPark Investment’s previous monthly dividend of $0.04.

PennantPark Investment has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 1 consecutive years. PennantPark Investment has a dividend payout ratio of 67.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect PennantPark Investment to earn $0.80 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 60.0%.

PennantPark Investment Price Performance

Shares of NASDAQ:PNNT opened at $3.96 on Wednesday. The company has a 50-day simple moving average of $4.39 and a 200-day simple moving average of $5.23. PennantPark Investment has a one year low of $3.61 and a one year high of $7.53. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.47 and a current ratio of 0.47. The stock has a market capitalization of $258.25 million, a price-to-earnings ratio of 15.21 and a beta of 0.57.

PennantPark Investment Company Profile

PennantPark Investment Corporation is a publicly traded closed-end management investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940. Since its formation in 2006, PennantPark has focused on providing customized financing solutions to middle-market companies across the United States. The firm’s investment advisory services are provided by PennantPark Investment Advisers, LLC, which sources and structures transactions tailored to the unique needs of its portfolio companies.

The company’s core strategy centers on debt and equity investments in U.S.-based businesses, typically those with annual revenues between $10 million and $200 million.