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

PennantPark Investment Co. (NASDAQ:PNNT - Get Free Report) declared a monthly dividend on Monday, January 6th,Wall Street Journal reports. Shareholders of record on Wednesday, January 15th will be paid a dividend of 0.08 per share by the asset manager on Monday, February 3rd. This represents a $0.96 dividend on an annualized basis and a yield of 13.28%. The ex-dividend date is Wednesday, January 15th.

PennantPark Investment has raised its dividend by an average of 14.2% per year over the last three years. PennantPark Investment has a payout ratio of 111.6% indicating that 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 $0.87 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 110.3%.

PennantPark Investment Price Performance

NASDAQ:PNNT traded up $0.09 during trading hours on Monday, reaching $7.23. The company had a trading volume of 503,858 shares, compared to its average volume of 472,094. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.56. The stock has a 50-day moving average of $6.93 and a two-hundred day moving average of $7.06. PennantPark Investment has a one year low of $6.43 and a one year high of $8.04. The firm has a market capitalization of $472.09 million, a PE ratio of 42.53 and a beta of 1.47.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PNNT shares. LADENBURG THALM/SH SH lowered shares of PennantPark Investment from a "buy" rating to a "neutral" rating in a report on Wednesday, November 27th. Compass Point raised shares of PennantPark Investment from a "sell" rating to a "neutral" rating and set a $6.00 price objective on the stock in a research note on Monday, September 9th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $6.00.

PennantPark Investment Company Profile

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.