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

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) declared a monthly dividend on Monday, May 6th, Wall Street Journal reports. Stockholders of record on Wednesday, May 15th will be paid a dividend of 0.1025 per share by the asset manager on Monday, June 3rd. This represents a $1.23 annualized dividend and a dividend yield of 10.61%. The ex-dividend date of this dividend is Tuesday, May 14th.

PennantPark Floating Rate Capital has increased its dividend by an average of 1.9% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. PennantPark Floating Rate Capital has a dividend payout ratio of 97.6% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect PennantPark Floating Rate Capital to earn $1.27 per share next year, which means the company should continue to be able to cover its $1.23 annual dividend with an expected future payout ratio of 96.9%.

PennantPark Floating Rate Capital Stock Up 0.8 %

Shares of PFLT opened at $11.59 on Wednesday. PennantPark Floating Rate Capital has a 1 year low of $9.69 and a 1 year high of $12.63. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.19 and a quick ratio of 0.19. The stock has a 50 day simple moving average of $11.32 and a two-hundred day simple moving average of $11.33. The firm has a market cap of $714.27 million, a P/E ratio of 10.35 and a beta of 1.66.

PennantPark Floating Rate Capital (NASDAQ:PFLT) last announced its quarterly earnings data on Wednesday, February 7th. The asset manager reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. PennantPark Floating Rate Capital had a net margin of 43.40% and a return on equity of 11.83%. The firm had revenue of $37.97 million during the quarter, compared to analyst estimates of $35.03 million. On average, analysts forecast that PennantPark Floating Rate Capital will post 1.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, JMP Securities restated a “market outperform” rating and set a $12.50 price target on shares of PennantPark Floating Rate Capital in a research report 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.