PennantPark Floating Rate Capital Ltd. Announces Monthly Distribution of $0.1025 per Share
PennantPark Floating Rate Capital (NYSE: PFLT) has announced its monthly distribution for August 2024 of $0.1025 per share, payable on September 3, 2024, to stockholders of record as of August 16, 2024. The distribution is expected to be paid from taxable net investment income. As a regulated investment company (RIC), PFLT generates qualified interest income and short-term capital gains that may be exempt from U.S. withholding tax for non-U.S. stockholders.
PFLT is a business development company primarily investing in U.S. middle-market private companies through floating rate senior secured loans. It is managed by PennantPark Investment Advisers, , a leading middle market credit platform managing $7.7 billion of investable capital.
PennantPark Floating Rate Capital (NYSE: PFLT) ha annunciato la sua distribuzione mensile per agosto 2024 di $0.1025 per azione, che sarà pagata il 3 settembre 2024, agli azionisti registrati al 16 agosto 2024. Si prevede che la distribuzione sarà pagata da entrate nette da investimento tassabili. In quanto società di investimento regolamentata (RIC), PFLT genera un reddito da interessi qualificati e guadagni in conto capitale a breve termine che potrebbero essere esenti dalla ritenuta fiscale negli Stati Uniti per gli azionisti non statunitensi.
PFLT è una società di sviluppo aziendale che investe principalmente in società private di mercato medio negli Stati Uniti attraverso prestiti garantiti a tasso variabile. È gestita da PennantPark Investment Advisers, una delle principali piattaforme di credito per il mercato medio che gestisce $7.7 miliardi di capitale investibile.
PennantPark Floating Rate Capital (NYSE: PFLT) ha anunciado su distribución mensual para agosto de 2024 de $0.1025 por acción, pagadera el 3 de septiembre de 2024, a los accionistas registrados hasta el 16 de agosto de 2024. Se espera que la distribución se pague a partir de ingresos netos de inversión gravables. Como una compañía de inversión regulada (RIC), PFLT genera ingresos por intereses calificados y ganancias de capital a corto plazo que pueden estar exentas del impuesto de retención de EE. UU. para los accionistas no estadounidenses.
PFLT es una compañía de desarrollo empresarial que invierte principalmente en empresas privadas de mercado medio en EE. UU. a través de préstamos senior garantizados a tasa variable. Está gestionada por PennantPark Investment Advisers, una plataforma líder de crédito de mercado medio que gestiona $7.7 mil millones de capital invertible.
PennantPark Floating Rate Capital (NYSE: PFLT)는 2024년 8월에 대한 월 배당금을 주당 $0.1025로 발표했으며, 2024년 9월 3일에 2024년 8월 16일 기준 주주에게 지급될 예정입니다. 이 배당금은 과세된 순투자소득에서 지급될 것으로 예상됩니다. 규제 투자 회사 (RIC)로서 PFLT는 비 미국 주주에 대해 미국 원천세에서 면제될 수 있는 적격 이자소득과 단기 자본이득을 생성합니다.
PFLT는 주로 부동금리 담보대출을 통해 미국 중소기업에 투자하는 비즈니스 개발 회사입니다. PennantPark Investment Advisers에 의해 관리되며, 이 회사는 $7.7억의 투자 가능 자본을 운영하는 주요 중소기업 신용 플랫폼입니다.
PennantPark Floating Rate Capital (NYSE: PFLT) a annoncé sa distribution mensuelle pour août 2024 d'un montant de $0.1025 par action, payable le 3 septembre 2024, aux actionnaires enregistrés au 16 août 2024. Il est prévu que cette distribution soit prélevée sur des revenus nets d'investissement imposables. En tant que société d'investissement réglementée (RIC), PFLT génère des revenus d'intérêts qualifiés et des gains en capital à court terme qui peuvent être exonérés de l'impôt sur le revenu américain pour les actionnaires non américains.
PFLT est une société de développement commercial qui investit principalement dans des entreprises privées de taille intermédiaire aux États-Unis par le biais de prêts garantis à taux flottant. Elle est gérée par PennantPark Investment Advisers, une plateforme de crédit de premier plan pour le marché intermédiaire gérant $7.7 milliards de capital investissable.
PennantPark Floating Rate Capital (NYSE: PFLT) hat seine monatliche Ausschüttung für August 2024 in Höhe von $0.1025 pro Aktie bekannt gegeben, die am 3. September 2024 an die Aktionäre gezahlt wird, die zum Stichtag am 16. August 2024 im Aktienregister stehen. Es wird erwartet, dass die Ausschüttung aus steuerpflichtigem Nettoanlageertrag geleistet wird. Als regulierte Investmentgesellschaft (RIC) erzielt PFLT qualifizierte Zinseinnahmen und kurzfristige Kapitalgewinne, die für Nicht-US-Aktionäre von der US-Quellensteuer befreit sein können.
PFLT ist eine Unternehmensentwicklungsgesellschaft, die hauptsächlich in private Unternehmen des mittleren Marktes in den USA über variable Zinssatzdarlehen investiert. Sie wird von PennantPark Investment Advisers geleitet, einer führenden Kreditplattform für den mittleren Markt, die $7,7 Milliarden verwaltbares Kapital hat.
- Consistent monthly distribution of $0.1025 per share
- Distribution expected to be paid from taxable net investment income
- Potential tax benefits for non-U.S. stockholders
- Managed by PennantPark Investment Advisers, , which oversees $7.7 billion in investable capital
- None.
Insights
PennantPark Floating Rate Capital's (PFLT) announcement of a
However, investors should note that the distribution is expected to be paid from taxable net investment income, which may impact after-tax returns for some shareholders. The company's focus on floating rate senior secured loans positions it well in a rising interest rate environment, potentially supporting the sustainability of this high yield.
The tax implications of PFLT's distribution are noteworthy. As a Regulated Investment Company (RIC), PFLT offers potential tax advantages to certain investors. Non-U.S. stockholders may benefit from exemptions on U.S. withholding tax for qualified interest income and short-term capital gains. This can enhance the effective yield for international investors.
However, domestic investors should be aware that the distribution is from taxable net investment income. The company's commitment to providing detailed tax characteristics on Form 1099 and in SEC filings demonstrates transparency, which is important for investors' tax planning.
PFLT's consistent distribution policy reflects stability in its business model, focusing on middle-market private companies. With
However, investors should monitor the broader economic conditions affecting middle-market companies, as these could impact PFLT's loan portfolio quality and, consequently, its ability to maintain the current distribution level in the long term.
MIAMI, Aug. 02, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NYSE: PFLT) declares its monthly distribution for August 2024 of
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
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
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