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

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) announced a monthly dividend on Tuesday, July 2nd, NASDAQ reports. Shareholders of record on Monday, July 15th will be given a dividend of 0.1025 per share by the asset manager on Thursday, August 1st. This represents a $1.23 dividend on an annualized basis and a dividend yield of 10.54%. The ex-dividend date of this dividend is Monday, July 15th.

PennantPark Floating Rate Capital has increased its dividend payment by an average of 1.9% annually over the last three years. PennantPark Floating Rate Capital has a dividend payout ratio of 96.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect PennantPark Floating Rate Capital to earn $1.29 per share next year, which means the company should continue to be able to cover its $1.23 annual dividend with an expected future payout ratio of 95.3%.

PennantPark Floating Rate Capital Trading Up 0.8 %

PennantPark Floating Rate Capital stock opened at $11.68 on Thursday. The stock has a market capitalization of $779.07 million, a PE ratio of 7.89 and a beta of 1.68. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.36 and a quick ratio of 0.36. PennantPark Floating Rate Capital has a 12-month low of $9.69 and a 12-month high of $12.63. The firm has a 50 day simple moving average of $11.39 and a 200-day simple moving average of $11.48.

PennantPark Floating Rate Capital (NASDAQ:PFLT) last posted its quarterly earnings data on Wednesday, May 8th. The asset manager reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.02). PennantPark Floating Rate Capital had a return on equity of 11.44% and a net margin of 55.99%. The firm had revenue of $44.35 million during the quarter, compared to the consensus estimate of $40.24 million. As a group, equities research analysts expect that PennantPark Floating Rate Capital will post 1.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, JMP Securities reiterated a “market outperform” rating and issued a $12.50 target price on shares of PennantPark Floating Rate Capital in a report on Tuesday, March 26th.

Insider Buying and Selling at PennantPark Floating Rate Capital

In other news, CFO Richard T. Allorto, Jr. acquired 10,000 shares of the stock in a transaction on Thursday, May 30th. The shares were purchased at an average cost of $11.30 per share, for a total transaction of $113,000.00. Following the transaction, the chief financial officer now owns 10,000 shares in the company, valued at approximately $113,000. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders bought 14,370 shares of company stock valued at $162,895. 1.00% of the stock is currently owned by corporate insiders.

About PennantPark Floating Rate Capital

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.