PennantPark Investment Co. (NASDAQ:PNNT) Plans $0.08 Monthly Dividend

PennantPark Investment Co. (NASDAQ:PNNT) announced a monthly dividend on Monday, November 4th,NASDAQ Dividends reports. Investors of record on Friday, November 15th will be given a dividend of 0.08 per share by the asset manager on Monday, December 2nd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 13.78%. The ex-dividend date is Friday, November 15th.

PennantPark Investment has increased its dividend by an average of 14.2% per year over the last three years. PennantPark Investment has a dividend payout ratio of 107.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect PennantPark Investment to earn $0.91 per share next year, which means the company may not be able to cover its $0.96 annual dividend with an expected future payout ratio of 105.5%.

PennantPark Investment Stock Down 0.9 %

NASDAQ:PNNT opened at $6.97 on Wednesday. PennantPark Investment has a 1 year low of $6.31 and a 1 year high of $8.04. The stock has a 50-day moving average price of $6.96 and a two-hundred day moving average price of $7.19. The stock has a market cap of $454.81 million, a price-to-earnings ratio of 7.48 and a beta of 1.52. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.54.

Wall Street Analyst Weigh In

PNNT has been the subject of several research analyst reports. StockNews.com lowered PennantPark Investment from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Compass Point upgraded shares of PennantPark Investment from a “sell” rating to a “neutral” rating and set a $6.00 price target for the company in a report on Monday, September 9th.

About PennantPark Investment

PennantPark Investment Corporation, a business development company is a private equity fund specializes in direct and mezzanine investments in middle market companies. It invests in the form of mezzanine debt, senior secured loans, and equity investments. The fund typically invests in buildings and real estate, hotels, gaming and leisure, technology, telecommunications, transportation, information technology services, electronics, healthcare & pharmaceuticals, education and childcare, financial services, printing and publishing, consumer products, business services, energy & Related Services and utilities, distribution, oil and gas, media, environmental services, aerospace and defense, building materials, capital equipment, chemicals, plastics, & rubber, food & beverage, wholesale, manufacturing and basic industries and retail.