PennantPark Investment Co. (PNNT) To Go Ex-Dividend on November 13th

PennantPark Investment Co. (NASDAQ:PNNT) announced a monthly dividend on Tuesday, November 3rd. Investors of record on Friday, November 13th will be paid a dividend of $0.04 per share by the asset manager on Tuesday, December 1st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 14.8%. The ex-dividend date of this dividend is Friday, November 13th.

PennantPark Investment has increased its dividend by an average of 0.1% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. PennantPark Investment has a payout ratio of 67.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect PennantPark Investment to earn $0.80 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 60.0%.

PennantPark Investment Trading Up 4.7%

Shares of PNNT stock opened at $3.23 on Thursday. PennantPark Investment has a 12-month low of $2.78 and a 12-month high of $6.58. The company has a market capitalization of $211.23 million, a P/E ratio of 12.44 and a beta of 0.65. The firm has a 50-day moving average price of $3.31 and a 200 day moving average price of $4.07. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.56.

PennantPark Investment Company Profile

PennantPark Investment Corporation (NASDAQ: PNNT) is a business development company that provides financing to middle-market businesses. The company primarily invests in privately negotiated transactions involving established companies, seeking to generate income and, to a lesser extent, capital appreciation.

Its investment portfolio generally includes senior secured loans, subordinated debt and equity investments. PennantPark Investment may provide financing for acquisitions, recapitalizations, refinancing, growth initiatives and other corporate purposes.