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

PennantPark Investment Co. (NASDAQ:PNNT - Get Free Report) declared a monthly dividend on Tuesday, March 4th, Wall Street Journal reports. Stockholders of record on Friday, March 14th will be given a dividend of 0.08 per share by the asset manager on Tuesday, April 1st. This represents a $0.96 annualized dividend and a dividend yield of 13.32%. The ex-dividend date of this dividend is Friday, March 14th.

PennantPark Investment has raised its dividend by an average of 24.2% per year over the last three years. PennantPark Investment has a dividend payout ratio of 120.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect PennantPark Investment to earn $0.80 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 120.0%.

PennantPark Investment Price Performance

NASDAQ:PNNT traded up $0.13 during trading hours on Friday, hitting $7.21. 457,302 shares of the company's stock traded hands, compared to its average volume of 450,962. PennantPark Investment has a 52 week low of $6.43 and a 52 week high of $8.04. The business's fifty day simple moving average is $7.10 and its two-hundred day simple moving average is $7.00. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.56. The firm has a market cap of $470.46 million, a P/E ratio of 27.71 and a beta of 1.45.

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Analyst Upgrades and Downgrades

Separately, LADENBURG THALM/SH SH downgraded PennantPark Investment from a "buy" rating to a "neutral" rating in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target 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.