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

PennantPark Investment Co. (NASDAQ:PNNT) declared a monthly dividend on Wednesday, February 5th,Wall Street Journal reports. Stockholders of record on Tuesday, February 18th will be given a dividend of 0.08 per share by the asset manager on Monday, March 3rd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 13.45%. The ex-dividend date is Tuesday, February 18th.

PennantPark Investment has increased its dividend by an average of 24.2% annually 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. Research analysts expect PennantPark Investment to earn $0.86 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 111.6%.

PennantPark Investment Stock Performance

PNNT stock opened at $7.14 on Friday. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.51 and a quick ratio of 0.51. The company has a 50 day moving average price of $6.98 and a 200 day moving average price of $6.98. PennantPark Investment has a fifty-two week low of $6.43 and a fifty-two week high of $8.04. The stock has a market capitalization of $465.92 million, a PE ratio of 7.73 and a beta of 1.47.

Wall Street Analysts Forecast Growth

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