PennantPark Investment Co. (NASDAQ:PNNT) Declares Monthly Dividend of $0.07

PennantPark Investment Co. (NASDAQ:PNNT) announced a monthly dividend on Monday, May 6th, Wall Street Journal reports. Shareholders of record on Wednesday, May 15th will be given a dividend of 0.07 per share by the asset manager on Monday, June 3rd. This represents a $0.84 annualized dividend and a dividend yield of 11.72%. The ex-dividend date of this dividend is Tuesday, May 14th.

PennantPark Investment has raised its dividend payment by an average of 14.2% per year over the last three years. PennantPark Investment has a dividend payout ratio of 91.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect PennantPark Investment to earn $0.91 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 92.3%.

PennantPark Investment Price Performance

NASDAQ:PNNT opened at $7.17 on Wednesday. The stock has a 50-day simple moving average of $6.88 and a 200 day simple moving average of $6.76. PennantPark Investment has a 52-week low of $4.87 and a 52-week high of $7.27. The company has a market cap of $467.30 million, a PE ratio of 9.68 and a beta of 1.49. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.81 and a current ratio of 0.81.

PennantPark Investment (NASDAQ:PNNT) last released its quarterly earnings results on Wednesday, February 7th. The asset manager reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. PennantPark Investment had a return on equity of 14.17% and a net margin of 32.55%. The firm had revenue of $34.34 million during the quarter, compared to the consensus estimate of $32.49 million. On average, sell-side analysts expect that PennantPark Investment will post 0.94 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Richard T. Allorto, Jr. purchased 5,000 shares of PennantPark Investment stock in a transaction on Tuesday, March 12th. The stock was purchased at an average price of $6.80 per share, with a total value of $34,000.00. Following the transaction, the chief financial officer now directly owns 15,000 shares in the company, valued at approximately $102,000. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Richard T. Allorto, Jr. acquired 5,000 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were bought at an average price of $6.80 per share, for a total transaction of $34,000.00. Following the purchase, the chief financial officer now directly owns 15,000 shares in the company, valued at approximately $102,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jose A. Briones acquired 3,800 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were bought at an average price of $6.67 per share, for a total transaction of $25,346.00. Following the purchase, the director now owns 255,535 shares in the company, valued at $1,704,418.45. The disclosure for this purchase can be found here. Insiders bought a total of 22,372 shares of company stock valued at $151,258 in the last quarter. 3.00% of the stock is currently owned by insiders.

About PennantPark Investment

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.