PennantPark Investment Co. (PNNT) To Go Ex-Dividend on April 15th

PennantPark Investment Co. (NASDAQ:PNNT) announced a monthly dividend on Thursday, April 3rd, Wall Street Journal reports. Investors of record on Tuesday, April 15th will be paid a dividend of 0.08 per share by the asset manager on Thursday, May 1st. This represents a $0.96 dividend on an annualized basis and a yield of 14.92%. The ex-dividend date of this dividend is Tuesday, April 15th.

PennantPark Investment has raised its dividend by an average of 24.2% per year over the last three years. PennantPark Investment has a 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. Equities 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 Performance

Shares of PNNT opened at $6.44 on Friday. PennantPark Investment has a one year low of $6.42 and a one year high of $8.04. The company has a 50-day simple moving average of $7.09 and a two-hundred day simple moving average of $7.00. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.47 and a quick ratio of 0.47. The firm has a market capitalization of $420.18 million, a PE ratio of 24.75 and a beta of 1.09.

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.