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

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) announced a monthly dividend on Thursday, April 3rd, Wall Street Journal reports. Investors of record on Tuesday, April 15th will be given a dividend of 0.1025 per share by the asset manager on Thursday, May 1st. This represents a $1.23 dividend on an annualized basis and a yield of 11.12%. The ex-dividend date is Tuesday, April 15th.

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

PennantPark Floating Rate Capital Stock Performance

Shares of PFLT traded down $0.02 on Thursday, reaching $11.07. The company’s stock had a trading volume of 2,319,720 shares, compared to its average volume of 943,693. The stock’s 50 day simple moving average is $11.17 and its two-hundred day simple moving average is $11.20. The stock has a market capitalization of $973.23 million, a P/E ratio of 7.90 and a beta of 1.67. PennantPark Floating Rate Capital has a 12-month low of $10.28 and a 12-month high of $12.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.15 and a quick ratio of 0.15.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PFLT. Raymond James began coverage on PennantPark Floating Rate Capital in a research note on Friday, December 20th. They set a “market perform” rating for the company. StockNews.com cut PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a report on Wednesday, March 19th.

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.