PennantPark Investment Co. (NASDAQ:PNNT) Plans Monthly Dividend of $0.08

PennantPark Investment Co. (NASDAQ:PNNT) announced a monthly dividend on Monday, January 6th,Wall Street Journal reports. Investors of record on Wednesday, January 15th will be given a dividend of 0.08 per share by the asset manager on Monday, February 3rd. This represents a $0.96 annualized dividend and a dividend yield of 13.33%. The ex-dividend date is Wednesday, January 15th.

PennantPark Investment has increased its dividend by an average of 14.2% per year over the last three years. PennantPark Investment has a payout ratio of 111.6% 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 $0.87 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 110.3%.

PennantPark Investment Trading Down 0.1 %

PennantPark Investment stock opened at $7.20 on Wednesday. PennantPark Investment has a 1 year low of $6.43 and a 1 year high of $8.04. The firm’s 50 day moving average price is $6.93 and its 200-day moving average price is $7.06. 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 stock has a market cap of $470.13 million, a P/E ratio of 42.36 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 note on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target 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.