Welcome to our dedicated page for PennantPark Floating Rate Capital Ltd. news (Ticker: PFLT), a resource for investors and traders seeking the latest updates and insights on PennantPark Floating Rate Capital Ltd. stock.
PennantPark Floating Rate Capital Ltd. (NYSE: PFLT) is a closed-end, externally managed, non-diversified investment company that specializes in generating current income and capital appreciation. The company's core focus is investing in Floating Rate Loans and other investments made to U.S. middle-market companies. These loans offer an appealing risk-reward ratio for investors due to the limited capital available for such companies and the potential for rising interest rates.
Founded in 2007 and led by Arthur Penn, PennantPark Investment Advisers manages approximately $2.1 billion across its publicly-listed business development companies and private vehicles for institutional limited partners. The senior team at PennantPark has deep individual experience and a long-standing history of collaboration. As of June 30, 2023, PFLT’s portfolio totaled $1,105.3 million, consisting of $950.2 million in first lien secured debt, $0.1 million in second lien secured debt, and $154.9 million in preferred and common equity. The debt portfolio is 100% variable-rate, which provides a hedge against interest rate fluctuations.
PFLT generates revenue primarily through interest income on debt securities and dividends. For the three months ended June 30, 2023, PFLT reported an investment income of $37.7 million and a net investment income of $18.5 million. Recent developments include the issuance of 5,805,484 shares of common stock through the ATM Program, raising $64.1 million in net proceeds.
The company's portfolio includes investments in 130 companies with an average investment size of $8.5 million and a weighted average yield on debt investments of 12.4%. PFLT has also managed to maintain a low percentage of non-accrual portfolio companies, representing just 1% on a cost basis and zero percent on a fair value basis as of June 30, 2023.
Recent news highlights include financial results for the third quarter ended June 30, 2023, and announcements about new investments and portfolio adjustments. The company's commitment to providing flexible capital solutions to U.S. middle-market companies underscores its significance in the investment landscape.
PennantPark Floating Rate Capital Ltd. (NASDAQ: PFLT) has announced a monthly distribution of $0.095 per share for November 2020, payable on December 1, 2020, to stockholders of record by November 17, 2020. The distribution will come from taxable net investment income and specific tax characteristics will be reported on Form 1099. As a regulated investment company, PFLT generates income that may be exempt from U.S. withholding tax for non-U.S. stockholders. PennantPark focuses on investments in U.S. middle-market private companies, primarily through floating rate senior secured loans.
PennantPark Floating Rate Capital Ltd. (NASDAQ: PFLT) announced it will release its fiscal Q4 results for the period ended September 30, 2020, on November 18, 2020, after market close. A conference call to discuss the results will occur on November 19, 2020, at 10:00 a.m. ET. Interested parties can join by calling toll-free (888) 394-8218. PennantPark focuses on investments in middle-market private companies primarily through floating rate senior secured loans, with approximately $3.6 billion in assets under management.
PennantPark Floating Rate Capital Ltd. (NASDAQ: PFLT) announced a monthly distribution of $0.095 per share for October 2020, payable on November 2, 2020. Stockholders of record as of October 21, 2020 will benefit from this distribution, which is expected to come from taxable net investment income. The Company operates as a regulated investment company generating qualified interest income and short-term capital gains, which may be exempt from U.S. withholding tax for non-U.S. stockholders. Specific tax characteristics will be reported on Form 1099 post-year-end.
PennantPark Floating Rate Capital Ltd. (NASDAQ: PFLT) reported its Q3 financial results for the period ending June 30, 2020, revealing a net investment income of $10.2 million ($0.26 per share) and a total investment portfolio of $1,104.4 million. The adjusted net asset value per share increased by 3.1% to $11.44. Despite achieving reduced leverage and increased liquidity, the company faced significant unrealized depreciation of $49.9 million in its portfolio, largely attributed to the adverse effects of the COVID-19 pandemic. Total declared distributions were $0.285 per share, with a regulatory debt-to-equity ratio of 1.62x.
PennantPark Floating Rate Capital Ltd. (NASDAQ: PFLT) has announced a monthly distribution of $0.095 per share for August 2020, payable on September 1, 2020, to stockholders on record as of August 19, 2020. This distribution comes from taxable net investment income and details regarding tax characteristics will be reported in Form 1099. Operating as a regulated investment company, PennantPark primarily invests in U.S. middle-market companies via floating rate senior secured loans.
PennantPark Floating Rate Capital Ltd. (NASDAQ: PFLT) will report its third fiscal quarter results for the period ending June 30, 2020, on August 5, 2020, after market close. A conference call is scheduled for August 6, 2020, at 10:00 a.m. ET, where the Company will discuss its financial performance. Interested parties can join the call by dialing the provided numbers. PennantPark primarily invests in U.S. middle-market private companies through floating rate senior secured loans and has a managed portfolio worth $3.7 billion.
PennantPark Floating Rate Capital Ltd. (PFLT) announced a monthly distribution for July 2020 of $0.095 per share, payable on August 3, 2020, to stockholders of record as of July 16, 2020. The distribution will originate from taxable net investment income. As a regulated investment company, PFLT generates qualified interest income that may be exempt from U.S. withholding tax for non-U.S. stockholders with appropriate documentation. Detailed tax characteristics will be reported to stockholders at year-end.
PennantPark Floating Rate Capital Ltd. (NASDAQ: PFLT) has announced its monthly distribution of $0.095 per share for June 2020, payable on July 1, 2020, to stockholders of record as of June 17, 2020. The distribution is anticipated to come from taxable net investment income, with specific tax characteristics reported on Form 1099 after the year-end. As a regulated investment company, PFLT focuses on investing in floating-rate senior secured loans to U.S. middle-market private companies and may also include equity investments.
PennantPark Floating Rate Capital Ltd. (NASDAQ: PFLT) reported its financial results for Q2 2020, ending March 31, showing a net investment income of $11.7 million or $0.30 per share. The investment portfolio stood at $1,179 million, with net assets of $469.8 million and a GAAP net asset value per share of $12.12. The company's unrealized depreciation amounted to $71.7 million, largely influenced by COVID-19 market disruptions. The annualized weighted average cost of debt was 4.1%. PFLT declared distributions of $0.285 per share during this quarter.
PennantPark Floating Rate Capital Ltd. (NASDAQ: PFLT) announced a monthly distribution of $0.095 per share for May 2020, payable on June 1, 2020. Stockholders of record as of May 18, 2020 will receive this distribution funded from taxable net investment income. The company operates as a regulated investment company, generating qualified interest income that may be exempt from U.S. withholding tax for non-U.S. stockholders. Tax characteristics will be reported on Form 1099 at year-end.
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