PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) Plans Monthly Dividend of $0.10

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) declared a monthly dividend on Thursday, December 5th,Wall Street Journal reports. Investors of record on Monday, December 16th will be paid a dividend of 0.1025 per share by the asset manager on Thursday, January 2nd. This represents a $1.23 annualized dividend and a yield of 11.16%. The ex-dividend date is Monday, December 16th.

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

PennantPark Floating Rate Capital Price Performance

NASDAQ PFLT traded down $0.01 on Thursday, hitting $11.02. The stock had a trading volume of 55,279 shares, compared to its average volume of 771,784. The firm has a 50-day moving average of $11.35 and a 200-day moving average of $11.35. The company has a market capitalization of $917.19 million, a price-to-earnings ratio of 8.71 and a beta of 1.65. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.18 and a current ratio of 0.18. PennantPark Floating Rate Capital has a 52-week low of $10.28 and a 52-week high of $12.63.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. StockNews.com upgraded PennantPark Floating Rate Capital from a “sell” rating to a “hold” rating in a research report on Monday, November 25th. Maxim Group raised PennantPark Floating Rate Capital from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Monday, August 12th.

About PennantPark Floating Rate Capital

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.