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

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT - Get Free Report) announced a monthly dividend on Thursday, April 3rd, Wall Street Journal reports. Investors of record on Tuesday, April 15th will be paid a dividend of 0.1025 per share by the asset manager on Thursday, May 1st. This represents a $1.23 annualized dividend and a yield of 13.41%. The ex-dividend date is Tuesday, April 15th.

PennantPark Floating Rate Capital has decreased its dividend by an average of 35.2% per year over the last three years.

PennantPark Floating Rate Capital Trading Down 2.1 %

Shares of PFLT traded down $0.20 during midday trading on Tuesday, reaching $9.18. The company had a trading volume of 2,925,779 shares, compared to its average volume of 991,816. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.57. PennantPark Floating Rate Capital has a 1-year low of $9.08 and a 1-year high of $12.02. The firm has a 50 day simple moving average of $11.03 and a 200-day simple moving average of $11.14. The stock has a market cap of $807.00 million, a PE ratio of 6.55 and a beta of 1.30.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Keefe, Bruyette & Woods cut their target price on PennantPark Floating Rate Capital from $11.50 to $11.00 and set a "market perform" rating on the stock in a research report on Tuesday. Raymond James began coverage on PennantPark Floating Rate Capital in a report on Friday, December 20th. They set a "market perform" rating for the company. Finally, StockNews.com upgraded PennantPark Floating Rate Capital from a "sell" rating to a "hold" rating in a report on Thursday, April 3rd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $11.67.

About PennantPark Floating Rate Capital

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.