PennantPark Investment Co. (NASDAQ:PNNT – Get Free Report) announced a special dividend on Thursday, July 2nd. Investors of record on Wednesday, July 15th will be paid a dividend of 0.04 per share by the asset manager on Monday, August 3rd. This represents a dividend yield of 1,393.0%. The ex-dividend date is Wednesday, July 15th.
PennantPark Investment has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 1 consecutive years. PennantPark Investment has a payout ratio of 67.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect PennantPark Investment to earn $0.80 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 60.0%.
PennantPark Investment Price Performance
PNNT opened at $3.44 on Friday. The business has a fifty day moving average of $3.97 and a 200 day moving average of $4.83. The stock has a market cap of $224.94 million, a P/E ratio of 13.25 and a beta of 0.59. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.56. PennantPark Investment has a 52-week low of $3.30 and a 52-week high of $7.53.
About PennantPark Investment
PennantPark Investment Corporation is a publicly traded closed-end management investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940. Since its formation in 2006, PennantPark has focused on providing customized financing solutions to middle-market companies across the United States. The firm’s investment advisory services are provided by PennantPark Investment Advisers, LLC, which sources and structures transactions tailored to the unique needs of its portfolio companies.
The company’s core strategy centers on debt and equity investments in U.S.-based businesses, typically those with annual revenues between $10 million and $200 million.
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