PennantPark Floating Rate Capital Ltd. (PFLT) to Issue Monthly Dividend of $0.10 on January 2nd

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) announced a monthly dividend on Tuesday, December 5th, Wall Street Journal reports. Investors of record on Tuesday, December 26th will be paid a dividend of 0.095 per share by the asset manager on Tuesday, January 2nd. This represents a $1.14 annualized dividend and a yield of 8.15%. The ex-dividend date is Friday, December 22nd.

Shares of PennantPark Floating Rate Capital (NASDAQ:PFLT) opened at $13.99 on Friday. PennantPark Floating Rate Capital has a twelve month low of $13.24 and a twelve month high of $14.65. The company has a market capitalization of $538.34, a P/E ratio of 12.72 and a beta of 0.59.

PennantPark Floating Rate Capital (NASDAQ:PFLT) last announced its earnings results on Thursday, November 30th. The asset manager reported $0.32 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.02). PennantPark Floating Rate Capital had a net margin of 61.05% and a return on equity of 7.66%. The company had revenue of $18.45 million during the quarter, compared to the consensus estimate of $19.40 million. During the same quarter in the previous year, the company earned $0.31 earnings per share. The business’s revenue was up 19.8% on a year-over-year basis. equities analysts expect that PennantPark Floating Rate Capital will post 1.08 EPS for the current fiscal year.

Several analysts recently commented on PFLT shares. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $15.50 target price on shares of PennantPark Floating Rate Capital in a report on Thursday, August 31st. Zacks Investment Research upgraded PennantPark Floating Rate Capital from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Saturday, August 26th. Maxim Group restated a “buy” rating and set a $14.75 price target on shares of PennantPark Floating Rate Capital in a report on Friday, December 1st. Finally, ValuEngine upgraded PennantPark Floating Rate Capital from a “hold” rating to a “buy” rating in a report on Friday, December 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $15.08.

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PennantPark Floating Rate Capital Company Profile

PennantPark Floating Rate Capital Ltd. is a business development company. The Company is a closed-end, externally managed and non-diversified investment company. Its investment objectives are to generate current income and capital appreciation by investing primarily in floating rate loans and other investments made to the United States middle-market companies.

Dividend History for PennantPark Floating Rate Capital (NASDAQ:PFLT)

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