PennantPark Floating Rate Capital Ltd. to Issue Monthly Dividend of $0.10 (NASDAQ:PFLT)

Posted by Steven Smith on Nov 14th, 2024

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT – Get Free Report) announced a monthly dividend on Monday, November 4th,NASDAQ Dividends reports. Stockholders of record on Friday, November 15th will be paid a dividend of 0.1025 per share by the asset manager on Monday, December 2nd. This represents a $1.23 annualized dividend and a dividend yield of 11.00%. The ex-dividend date of this dividend is Friday, November 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 Price Performance

PennantPark Floating Rate Capital stock remained flat at $11.18 during trading on Thursday. The company had a trading volume of 122,866 shares, compared to its average volume of 766,646. The company’s 50-day moving average price is $11.48 and its 200 day moving average price is $11.38. PennantPark Floating Rate Capital has a fifty-two week low of $10.28 and a fifty-two week high of $12.63. The firm has a market cap of $820.84 million, a PE ratio of 6.90 and a beta of 1.69. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.22 and a current ratio of 0.22.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. StockNews.com downgraded PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. JMP Securities cut their target price on shares of PennantPark Floating Rate Capital from $12.50 to $12.00 and set a “market outperform” rating for the company in a research report on Tuesday, July 30th. Finally, Maxim Group raised shares of PennantPark Floating Rate Capital from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Monday, August 12th.

Check Out Our Latest Stock Analysis on PFLT

About PennantPark Floating Rate Capital

(Get Free Report)

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.