Pennantpark Floating Rate Capital Ltd (PFLT) to Issue Monthly Dividend of $0.10

Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) announced a monthly dividend on Wednesday, February 7th, Wall Street Journal reports. Stockholders of record on Friday, February 16th will be given a dividend of 0.095 per share by the asset manager on Thursday, March 1st. This represents a $1.14 annualized dividend and a dividend yield of 8.83%. The ex-dividend date of this dividend is Thursday, February 15th.

Pennantpark Floating Rate Capital (PFLT) traded up $0.06 during trading on Wednesday, hitting $12.91. 429,826 shares of the stock traded hands, compared to its average volume of 361,023. Pennantpark Floating Rate Capital has a twelve month low of $12.00 and a twelve month high of $14.65. The stock has a market cap of $496.78, a PE ratio of 16.55 and a beta of 0.54.

Pennantpark Floating Rate Capital (NASDAQ:PFLT) last issued its quarterly earnings data on Thursday, February 8th. The asset manager reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). Pennantpark Floating Rate Capital had a return on equity of 7.49% and a net margin of 47.64%. The company had revenue of $14.84 million during the quarter, compared to analyst estimates of $15.29 million. During the same quarter in the prior year, the company posted $0.28 earnings per share. The business’s revenue was up 17.5% compared to the same quarter last year. analysts forecast that Pennantpark Floating Rate Capital will post 1.07 earnings per share for the current year.

Several equities analysts have recently commented on PFLT shares. Maxim Group restated a “buy” rating and issued a $14.75 price objective on shares of Pennantpark Floating Rate Capital in a report on Friday, December 1st. ValuEngine upgraded shares of Pennantpark Floating Rate Capital from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Zacks Investment Research lowered shares of Pennantpark Floating Rate Capital from a “hold” rating to a “strong sell” rating in a report on Tuesday, December 5th. BidaskClub upgraded shares of Pennantpark Floating Rate Capital from a “sell” rating to a “hold” rating in a report on Friday, December 22nd. Finally, Keefe, Bruyette & Woods set a $15.00 target price on shares of Pennantpark Floating Rate Capital and gave the stock a “buy” rating in a report on Friday, February 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $14.95.

In other news, insider Arthur H. Penn acquired 10,000 shares of Pennantpark Floating Rate Capital stock in a transaction dated Monday, February 12th. The shares were acquired at an average cost of $12.57 per share, for a total transaction of $125,700.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 1.00% of the stock is currently owned by company insiders.

ILLEGAL ACTIVITY NOTICE: “Pennantpark Floating Rate Capital Ltd (PFLT) to Issue Monthly Dividend of $0.10” was originally posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this piece on another domain, it was copied illegally and republished in violation of United States and international copyright and trademark laws. The legal version of this piece can be accessed at https://www.dispatchtribunal.com/2018/02/15/pennantpark-floating-rate-capital-ltd-announces-monthly-dividend-of-0-10-pflt.html.

Pennantpark Floating Rate Capital Company Profile

PennantPark Floating Rate Capital Ltd. is a business development company. The Company is a closed-end, externally managed and non-diversified investment company. Its investment objectives are to generate current income and capital appreciation by investing primarily in floating rate loans and other investments made to the United States middle-market companies.

Dividend History for Pennantpark Floating Rate Capital (NASDAQ:PFLT)

Receive News & Ratings for Pennantpark Floating Rate Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pennantpark Floating Rate Capital and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply