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

PennantPark Investment Co. (NASDAQ:PNNT) declared a monthly dividend on Tuesday, March 4th, Wall Street Journal reports. Shareholders of record on Friday, March 14th will be paid a dividend of 0.08 per share by the asset manager on Tuesday, April 1st. This represents a $0.96 dividend on an annualized basis and a yield of 13.49%. The ex-dividend date of this dividend is Friday, March 14th.

PennantPark Investment has increased its dividend payment by an average of 24.2% per year over the last three years. PennantPark Investment has a dividend payout ratio of 120.0% 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 Trading Down 0.1 %

Shares of PNNT traded down $0.01 during trading hours on Wednesday, hitting $7.12. 454,037 shares of the stock traded hands, compared to its average volume of 450,886. The business has a fifty day moving average of $7.09 and a 200-day moving average of $6.99. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $464.58 million, a PE ratio of 27.37 and a beta of 1.47. PennantPark Investment has a 1-year low of $6.43 and a 1-year high of $8.04.

Wall Street Analysts Forecast Growth

Separately, LADENBURG THALM/SH SH lowered PennantPark Investment from a “buy” rating to a “neutral” rating in a research note on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $6.00.

PennantPark Investment Company Profile

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.