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

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) declared a monthly dividend on Tuesday, March 4th, Wall Street Journal reports. Investors of record on Friday, March 14th will be given 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 11.17%. The ex-dividend date of this dividend 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 0.1 %

Shares of NASDAQ:PFLT traded up $0.02 on Wednesday, hitting $11.02. 209,291 shares of the company’s stock were exchanged, compared to its average volume of 1,279,159. The stock has a market capitalization of $968.84 million, a price-to-earnings ratio of 7.88 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. The business’s 50 day simple moving average is $11.14 and its two-hundred day simple moving average is $11.22.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PFLT shares. StockNews.com raised shares of PennantPark Floating Rate Capital from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. Raymond James started coverage on PennantPark Floating Rate Capital in a report on Friday, December 20th. They set 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.