PennantPark Investment Co. (PNNT) to Issue Monthly Dividend of $0.08 on February 3rd

PennantPark Investment Co. (NASDAQ:PNNT) 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 13.50%. The ex-dividend date of this dividend is Wednesday, January 15th.

PennantPark Investment has raised its dividend by an average of 23.8% per year over the last three years. PennantPark Investment has a payout ratio of 112.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research 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 Stock Down 1.1 %

Shares of PennantPark Investment stock opened at $7.11 on Monday. PennantPark Investment has a twelve month low of $6.43 and a twelve month high of $8.04. The stock has a market capitalization of $464.25 million, a price-to-earnings ratio of 41.83 and a beta of 1.47. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 1.56. The business’s 50 day simple moving average is $6.95 and its 200-day simple moving average is $7.05.

Analyst Ratings Changes

Separately, LADENBURG THALM/SH SH cut PennantPark Investment from a “buy” rating to a “neutral” rating in a research note on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $6.00.

About PennantPark Investment

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.