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

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) declared a monthly dividend on Wednesday, March 5th, Wall Street Journal reports. Shareholders of record on Friday, March 14th will be paid a dividend of 0.1025 per share by the asset manager on Tuesday, April 1st. This represents a $1.23 dividend on an annualized basis and a yield of 11.05%. The ex-dividend date is Friday, March 14th.

PennantPark Floating Rate Capital has decreased its dividend payment by an average of 35.2% per year over the last three years.

PennantPark Floating Rate Capital Price Performance

Shares of PFLT stock traded up $0.01 during trading hours on Wednesday, hitting $11.14. The company had a trading volume of 1,350,666 shares, compared to its average volume of 1,298,430. PennantPark Floating Rate Capital has a 12 month low of $10.28 and a 12 month high of $12.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.15 and a current ratio of 0.15. The firm’s fifty day moving average is $11.12 and its 200 day moving average is $11.22. The firm has a market capitalization of $979.39 million, a price-to-earnings ratio of 7.95 and a beta of 1.65.

Analysts Set New Price Targets

Several research analysts have issued reports on PFLT shares. Raymond James began coverage on PennantPark Floating Rate Capital in a research note on Friday, December 20th. They set a “market perform” rating for the company. StockNews.com cut shares of PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a research report on Tuesday, February 25th.

PennantPark Floating Rate Capital Company Profile

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.