PennantPark Floating Rate Capital Ltd. Declares Monthly Dividend of $0.10 (PFLT)

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) announced a monthly dividend on Tuesday, December 5th, Wall Street Journal reports. Stockholders of record on Tuesday, December 26th will be given a dividend of 0.095 per share by the asset manager on Tuesday, January 2nd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 8.23%. The ex-dividend date is Friday, December 22nd.

PennantPark Floating Rate Capital (NASDAQ:PFLT) traded up $0.03 on Wednesday, reaching $13.86. The company’s stock had a trading volume of 274,700 shares, compared to its average volume of 218,646. PennantPark Floating Rate Capital has a fifty-two week low of $13.24 and a fifty-two week high of $14.65. The company has a market cap of $532.18, a price-to-earnings ratio of 12.57 and a beta of 0.59.

PennantPark Floating Rate Capital (NASDAQ:PFLT) last posted its quarterly earnings results on Thursday, November 30th. The asset manager reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.02). The company had revenue of $18.45 million during the quarter, compared to analysts’ expectations of $19.40 million. PennantPark Floating Rate Capital had a return on equity of 7.66% and a net margin of 61.05%. The business’s quarterly revenue was up 19.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.31 EPS. research analysts expect that PennantPark Floating Rate Capital will post 1.1 EPS for the current year.

Several equities analysts have recently weighed in on the company. Zacks Investment Research raised PennantPark Floating Rate Capital from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Tuesday, August 15th. ValuEngine raised PennantPark Floating Rate Capital from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Maxim Group reissued a “buy” rating and set a $14.75 price target on shares of PennantPark Floating Rate Capital in a report on Wednesday, August 9th. BidaskClub raised PennantPark Floating Rate Capital from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $15.50 price objective on shares of PennantPark Floating Rate Capital in a research report on Thursday, August 31st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. PennantPark Floating Rate Capital has an average rating of “Buy” and an average price target of $15.08.

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About PennantPark Floating Rate Capital

PennantPark Floating Rate Capital Ltd. is a business development company. The Company is a closed-end, externally managed and non-diversified investment company. Its investment objectives are to generate current income and capital appreciation by investing primarily in floating rate loans and other investments made to the United States middle-market companies.

Dividend History for PennantPark Floating Rate Capital (NASDAQ:PFLT)

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