PennantPark Floating Rate Capital Ltd. Announces Monthly Distribution of $0.1025 per Share

Rhea-AI Summary

PennantPark Floating Rate Capital (NYSE: PFLT) has declared a monthly distribution for June 2024 of $0.1025 per share. This distribution will be payable on July 1, 2024, to stockholders of record as of June 14, 2024. The payment is expected to come from taxable net investment income. Specific tax characteristics will be provided on Form 1099 after the year ends and in periodic reports filed with the SEC. As a regulated investment company (RIC), PennantPark Floating Rate Capital generates qualified interest income and short-term capital gains. These gains may be exempt from U.S. withholding tax for non-U.S. stockholders with proper documentation. The company primarily invests in U.S. middle-market private companies through floating rate senior secured loans and occasionally in equity investments. Managed by PennantPark Investment Advisers, which oversees $7.5 billion of investable capital, the firm offers a range of creative and flexible financing solutions to middle-market borrowers.

Positive

• Monthly distribution of $0.1025 per share.
• Distribution payable on July 1, 2024.
• Expected to be paid from taxable net investment income.
• PennantPark Floating Rate Capital generates qualified interest income and short-term capital gains.
• Potential exemption from U.S. withholding tax for non-U.S. stockholders with proper documentation.
• Managed by PennantPark Investment Advisers, which oversees $7.5 billion of investable capital.

Negative

• The final tax characteristics of the distribution will only be known after the end of the calendar year.
• Investments primarily in middle-market private companies may carry higher risk.

MIAMI, June 04, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NYSE: PFLT) declares its monthly distribution for June 2024 of $0.1025 per share, payable on July 1, 2024 to stockholders of record as of June 14, 2024. The distribution is expected to be paid from taxable net investment income. The final specific tax characteristics of the distribution will be reported to stockholders on Form 1099 after the end of the calendar year and in the Company's periodic report filed with the Securities and Exchange Commission.

The Company, which operates as a regulated investment company (“RIC”), generates qualified interest income and short-term capital gains that may be exempt from U.S. withholding tax when distributed to non-U.S. stockholders. The U.S. tax law permits a RIC to report the portion of distributions paid that represents interest-related dividends as exempt from U.S. withholding tax when paid to non-U.S. stockholders with proper documentation.

The specific tax characteristics of this distribution can be found on our website www.pennantpark.com.

ABOUT PENNANTPARK FLOATING RATE CAPITAL LTD.

PennantPark Floating Rate Capital Ltd. is a business development company which primarily invests in U.S. middle-market private companies in the form of floating rate senior secured loans, including first lien secured debt, second lien secured debt and subordinated debt. From time to time, the Company may also invest in equity investments. PennantPark Floating Rate Capital Ltd. is managed by PennantPark Investment Advisers, LLC.

ABOUT PENNANTPARK INVESTMENT ADVISERS, LLC

PennantPark Investment Advisers, LLC is a leading middle market credit platform, managing $7.5 billion of investable capital, including potential leverage. Since its inception in 2007, PennantPark Investment Advisers, LLC has provided investors access to middle market credit by offering private equity firms and their portfolio companies as well as other middle-market borrowers a comprehensive range of creative and flexible financing solutions. PennantPark Investment Advisers, LLC is headquartered in Miami and has offices in New York, Chicago, Houston, Los Angeles and Amsterdam.

FORWARD-LOOKING STATEMENTS

This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. You should understand that under Section 27A(b)(2)(B) of the Securities Act and Section 21E(b)(2)(B) of the Exchange Act the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 do not apply to forward-looking statements made in periodic reports PennantPark Floating Rate Capital Ltd. files under the Exchange Act. All statements other than statements of historical facts included in this press release are forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in filings with the Securities and Exchange Commission. PennantPark Floating Rate Capital Ltd. undertakes no duty to update any forward-looking statement made herein. You should not place undue influence on such forward-looking statements as such statements speak only as of the date on which they are made.

The information contained herein is based on current tax laws, which may change in the future. The Company cannot be held responsible for any direct or incidental loss resulting from applying any of the information provided in this publication or from any other source mentioned. The information provided in this material does not constitute any specific legal, tax or accounting advice. Please consult with qualified professionals for this type of advice.

CONTACT:
Richard T. Allorto, Jr.
PennantPark Floating Rate Capital Ltd.
(212) 905-1000
www.pennantpark.com

FAQ

What is the monthly distribution announced by PennantPark Floating Rate Capital for June 2024?

PennantPark Floating Rate Capital has announced a monthly distribution of $0.1025 per share for June 2024.

When will the June 2024 distribution by PFLT be payable?

The distribution will be payable on July 1, 2024.

Who is eligible for PFLT's June 2024 distribution?

Stockholders of record as of June 14, 2024, are eligible for the distribution.

From what source is PFLT's June 2024 distribution expected to be paid?

The distribution is expected to be paid from taxable net investment income.

Can non-U.S. stockholders be exempt from U.S. withholding tax on PFLT distributions?

Yes, if they provide proper documentation, they may be exempt from U.S. withholding tax on certain distributions.

What type of investments does PennantPark Floating Rate Capital make?

The company primarily invests in U.S. middle-market private companies through floating rate senior secured loans and occasionally in equity investments.