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

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) announced a monthly dividend on Monday, November 4th,NASDAQ Dividends reports. Investors of record on Friday, November 15th will be given a dividend of 0.1025 per share by the asset manager on Monday, December 2nd. This represents a $1.23 annualized dividend and a yield of 10.99%. The ex-dividend date is Friday, November 15th.

PennantPark Floating Rate Capital has decreased its dividend by an average of 35.2% annually over the last three years.

PennantPark Floating Rate Capital Price Performance

Shares of NASDAQ:PFLT opened at $11.19 on Wednesday. The firm has a 50 day moving average of $11.48 and a 200-day moving average of $11.39. PennantPark Floating Rate Capital has a 12 month low of $10.28 and a 12 month high of $12.63. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $821.57 million, a PE ratio of 8.88 and a beta of 1.69.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. JMP Securities cut their target price on PennantPark Floating Rate Capital from $12.50 to $12.00 and set a “market outperform” rating for the company in a research note on Tuesday, July 30th. StockNews.com cut PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Finally, Maxim Group raised PennantPark Floating Rate Capital from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Monday, August 12th.

PennantPark Floating Rate Capital Company Profile

PennantPark Floating Rate Capital Ltd. is a business development company. It seeks to make secondary direct, debt, equity, and loan investments. The fund seeks to invest through floating rate loans in private or thinly traded or small market-cap, public middle market companies. It primarily invests in the United States and to a limited extent non-U.S.