PennantPark Floating Rate Capital Ltd. Announces Monthly Distribution of $0.095 per Share

Rhea-AI Summary

PennantPark Floating Rate Capital Ltd. (NASDAQ: PFLT) has announced a monthly distribution of $0.095 per share for December 2021, payable on January 3, 2022. Stockholders of record as of December 20, 2021 will receive the payment, which is expected to stem from taxable net investment income. The company operates as a regulated investment company (RIC), generating exempt interest income for non-U.S. stockholders under certain conditions. Detailed tax characteristics will be disclosed on Form 1099.

Positive

• Monthly distribution of $0.095 per share reinforces consistent income for shareholders.
• The company operates as a regulated investment company, enhancing appeal for non-U.S. investors due to potential tax exemptions.

Negative

• None.

NEW YORK, Dec. 02, 2021 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NASDAQ: PFLT) (TASE: PFLT) declares its monthly distribution for December 2021 of $0.095 per share, payable on January 3, 2022 to stockholders of record as of December 20, 2021. 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 $5.2 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 New York and has offices in Chicago, Houston and Los Angeles.

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 Cheung
PennantPark Floating Rate Capital Ltd.
(212) 905-1000
www.pennantpark.com

FAQ

What is the monthly distribution amount for PFLT in December 2021?

The monthly distribution amount for PennantPark Floating Rate Capital Ltd. (PFLT) in December 2021 is $0.095 per share.

When will PFLT's December 2021 distribution be paid?

The distribution will be paid on January 3, 2022.

Who is eligible to receive the December 2021 distribution from PFLT?

Stockholders of record as of December 20, 2021, are eligible to receive the distribution.

How is PFLT's distribution expected to be funded?

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

What are the tax characteristics of PFLT's distribution?

The specific tax characteristics will be reported on Form 1099 after the calendar year ends.