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

PennantPark Investment Co. (NASDAQ:PNNT) declared a monthly dividend on Thursday, April 3rd, Wall Street Journal reports. Stockholders of record on Tuesday, April 15th will be paid a dividend of 0.08 per share by the asset manager on Thursday, May 1st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 13.67%. The ex-dividend date is Tuesday, April 15th.

PennantPark Investment has increased its dividend by an average of 24.2% annually over the last three years. PennantPark Investment has a dividend payout ratio of 120.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect PennantPark Investment to earn $0.80 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 120.0%.

PennantPark Investment Price Performance

NASDAQ:PNNT traded up $0.01 during mid-day trading on Thursday, hitting $7.02. 467,079 shares of the company’s stock traded hands, compared to its average volume of 461,777. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.47 and a current ratio of 0.47. The company has a market cap of $458.44 million, a PE ratio of 27.00 and a beta of 1.45. The firm’s 50 day simple moving average is $7.10 and its 200 day simple moving average is $7.01. PennantPark Investment has a 1 year low of $6.43 and a 1 year high of $8.04.

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.