PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) Plans $0.00 Special Dividend

PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) announced a special dividend on Wednesday, September 2nd. Stockholders of record on Tuesday, September 15th will be given a dividend of 0.0033 per share on Thursday, October 1st. This represents a dividend yield of 1,295.0%. The ex-dividend date of this dividend is Tuesday, September 15th.

PennantPark Floating Rate Capital has increased its dividend by an average of 0.0%annually over the last three years.

PennantPark Floating Rate Capital Stock Up 0.3%

Shares of PFLT stock opened at $7.42 on Thursday. The stock’s 50-day simple moving average is $7.27 and its 200-day simple moving average is $7.93. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.19 and a current ratio of 0.19. The firm has a market capitalization of $735.72 million, a PE ratio of 14.54 and a beta of 0.78. PennantPark Floating Rate Capital has a fifty-two week low of $6.83 and a fifty-two week high of $10.30.

PennantPark Floating Rate Capital (NYSE:PFLT) last released its quarterly earnings data on Monday, August 10th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.01). The business had revenue of $66.09 million during the quarter. PennantPark Floating Rate Capital had a return on equity of 10.24% and a net margin of 18.53%. Equities analysts expect that PennantPark Floating Rate Capital will post 1.06 earnings per share for the current year.

Institutional Investors Weigh In On PennantPark Floating Rate Capital

Institutional investors and hedge funds have recently modified their holdings of the stock. Legal & General Group Plc acquired a new stake in shares of PennantPark Floating Rate Capital during the second quarter worth approximately $6,061,000. Van ECK Associates Corp boosted its holdings in shares of PennantPark Floating Rate Capital by 37.0% in the second quarter. Van ECK Associates Corp now owns 2,473,706 shares of the company’s stock valued at $18,503,000 after acquiring an additional 668,394 shares in the last quarter. Marshall Wace LLP raised its position in PennantPark Floating Rate Capital by 42.9% in the third quarter. Marshall Wace LLP now owns 2,057,399 shares of the company’s stock worth $18,290,000 after acquiring an additional 617,657 shares in the last quarter. Truffle Hound Capital LLC bought a new stake in shares of PennantPark Floating Rate Capital during the 4th quarter worth $5,562,000. Finally, Millennium Management LLC boosted its stake in PennantPark Floating Rate Capital by 85.0% in the 1st quarter. Millennium Management LLC now owns 1,196,752 shares of the company’s stock worth $13,392,000 after purchasing an additional 550,011 shares during the period. Hedge funds and other institutional investors own 19.77% of the company’s stock.

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. companies. The fund typically invests between $2 million and $20 million. The fund also invests in equity securities, such as preferred stock, common stock, warrants or options received in connection with debt investments or through direct investments.