PennantPark Floating Rate Capital Ltd. (PFLT) to Issue Monthly Dividend of $0.10 on August 1st

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) declared a monthly dividend on Tuesday, July 2nd, NASDAQ reports. Investors of record on Monday, July 15th will be paid a dividend of 0.1025 per share by the asset manager on Thursday, August 1st. This represents a $1.23 dividend on an annualized basis and a dividend yield of 10.31%. The ex-dividend date of this dividend is Monday, July 15th.

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

PennantPark Floating Rate Capital Price Performance

PennantPark Floating Rate Capital stock opened at $11.93 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.71. PennantPark Floating Rate Capital has a 52-week low of $9.69 and a 52-week high of $12.63. The firm has a market cap of $796.09 million, a PE ratio of 9.05 and a beta of 1.68. The company’s 50 day moving average is $11.45 and its two-hundred day moving average is $11.48.

PennantPark Floating Rate Capital (NASDAQ:PFLT) last announced its quarterly earnings data on Wednesday, May 8th. The asset manager reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.02). The company had revenue of $44.35 million during the quarter, compared to analyst estimates of $40.24 million. PennantPark Floating Rate Capital had a net margin of 55.99% and a return on equity of 11.44%. On average, research analysts expect that PennantPark Floating Rate Capital will post 1.3 EPS for the current fiscal year.

Insider Buying and Selling at PennantPark Floating Rate Capital

In other news, CFO Richard T. Allorto, Jr. bought 10,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was purchased at an average price of $11.30 per share, for a total transaction of $113,000.00. Following the completion of the purchase, the chief financial officer now owns 10,000 shares in the company, valued at approximately $113,000. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last three months, insiders have bought 14,370 shares of company stock valued at $162,895. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Separately, JMP Securities reiterated a “market outperform” rating and issued a $12.50 price objective on shares of PennantPark Floating Rate Capital in a research note on Tuesday, March 26th.

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.