PennantPark Investment Co. (PNNT) to Issue Monthly Dividend of $0.08 on March 3rd

PennantPark Investment Co. (NASDAQ:PNNT) announced a monthly dividend on Wednesday, February 5th,Wall Street Journal reports. Stockholders of record on Tuesday, February 18th will be paid a dividend of 0.08 per share by the asset manager on Monday, March 3rd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 13.31%. The ex-dividend date is Tuesday, February 18th.

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 112.9% 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 $0.85 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 112.9%.

PennantPark Investment Stock Up 0.3 %

Shares of PennantPark Investment stock opened at $7.22 on Friday. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 1.56. The business’s 50 day simple moving average is $7.03 and its 200-day simple moving average is $6.98. The stock has a market capitalization of $471.14 million, a price-to-earnings ratio of 42.44 and a beta of 1.47. PennantPark Investment has a twelve month low of $6.43 and a twelve month high of $8.04.

Wall Street Analysts Forecast Growth

Separately, LADENBURG THALM/SH SH cut PennantPark Investment from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $6.00.

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.