PennantPark Investment Co. (PNNT) to Issue Monthly Dividend of $0.08 on April 1st

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

PennantPark Investment has raised its dividend by an average of 24.2% per year over the last three years. PennantPark Investment has a dividend payout ratio of 120.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Stock Down 0.1 %

PNNT opened at $7.12 on Thursday. The company has a market cap of $464.58 million, a P/E ratio of 27.37 and a beta of 1.45. The business’s 50-day moving average price is $7.09 and its 200-day moving average price is $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. PennantPark Investment has a 12 month low of $6.43 and a 12 month high of $8.04.

Analyst Upgrades and Downgrades

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

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.