PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) to Issue Monthly Dividend of $0.10

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) declared a monthly dividend on Tuesday, March 4th, Wall Street Journal reports. Shareholders of record on Friday, March 14th will be paid a dividend of 0.1025 per share by the asset manager on Tuesday, April 1st. This represents a $1.23 dividend on an annualized basis and a yield of 11.05%. The ex-dividend date is Friday, March 14th.

PennantPark Floating Rate Capital has decreased its dividend by an average of 35.2% annually over the last three years.

PennantPark Floating Rate Capital Trading Up 0.0 %

Shares of PFLT stock traded up $0.01 on Wednesday, reaching $11.14. 1,351,066 shares of the stock were exchanged, compared to its average volume of 1,298,440. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.15 and a quick ratio of 0.15. PennantPark Floating Rate Capital has a one year low of $10.28 and a one year high of $12.02. The stock has a market cap of $979.39 million, a PE ratio of 7.95 and a beta of 1.65. The stock has a 50 day moving average price of $11.12 and a 200 day moving average price of $11.22.

Analysts Set New Price Targets

PFLT has been the topic of a number of research reports. StockNews.com downgraded shares of PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a research report on Tuesday, February 25th. Raymond James initiated coverage on shares of PennantPark Floating Rate Capital in a report on Friday, December 20th. They issued a “market perform” rating on the 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.