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

Rhea-AI Summary

PennantPark Floating Rate Capital Ltd. (NASDAQ: PFLT) announced a monthly distribution of $0.095 per share for July 2021, payable on August 2, 2021. Stockholders of record as of July 19, 2021 will receive this distribution, which is sourced from taxable net investment income. The company operates as a regulated investment company, providing interest income that may be exempt from U.S. withholding tax for non-U.S. stockholders. The tax characteristics of the distribution will be reported on Form 1099 later this year.

Positive

• Monthly distribution of $0.095 shows consistent payouts to shareholders.
• Exemptions from U.S. withholding tax for non-U.S. stockholders enhance investment appeal.

Negative

• None.

NEW YORK, July 02, 2021 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NASDAQ: PFLT) (TASE: PFLT) declares its monthly distribution for July 2021 of $0.095 per share, payable on August 2, 2021 to stockholders of record as of July 19, 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 $4.7 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 distribution amount declared by PFLT for July 2021?

PennantPark Floating Rate Capital Ltd. declared a distribution of $0.095 per share for July 2021.

When will the distribution for July 2021 be paid to PFLT shareholders?

The distribution for July 2021 will be payable on August 2, 2021.

Who will receive the July 2021 distribution from PFLT?

Stockholders of record as of July 19, 2021, will receive the distribution.

What portion of the distribution from PFLT may be exempt from U.S. withholding tax?

The distribution may include portions that are interest-related dividends exempt from U.S. withholding tax for non-U.S. shareholders.

Where can I find the specific tax characteristics of the PFLT distribution?

The specific tax characteristics of the distribution can be found on the company's website.