PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) to Issue $0.10 Monthly Dividend

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) announced a monthly dividend on Wednesday, March 5th, Wall Street Journal reports. Investors of record on Friday, March 14th will be given a dividend of 0.1025 per share by the asset manager on Tuesday, April 1st. This represents a $1.23 annualized dividend and a dividend yield of 11.05%. The ex-dividend date of this dividend is Friday, March 14th.

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

PennantPark Floating Rate Capital Stock Up 0.0 %

Shares of PFLT traded up $0.01 during trading hours on Wednesday, hitting $11.14. 1,350,666 shares of the company were exchanged, compared to its average volume of 1,298,430. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.15 and a current ratio of 0.15. The company has a market cap of $979.39 million, a PE ratio of 7.95 and a beta of 1.65. The firm’s 50 day moving average is $11.12 and its 200-day moving average is $11.22. PennantPark Floating Rate Capital has a 52 week low of $10.28 and a 52 week high of $12.02.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Raymond James assumed coverage on PennantPark Floating Rate Capital in a research note on Friday, December 20th. They issued a “market perform” rating on the stock. StockNews.com downgraded shares of PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a research note on Tuesday, February 25th.

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.