PennantPark Investment Corporation Announces Monthly Distribution of $0.07 per Share

Rhea-AI Summary

PennantPark Investment (PNNT) announces its monthly distribution for May 2024 of $0.07 per share, payable on June 3, 2024 to stockholders of record as of May 15, 2024. The distribution is expected to be paid from taxable net investment income. PennantPark primarily invests in U.S. middle-market private companies through various debt and equity investments. Managed by PennantPark Investment Advisers, , the company has a strong middle market credit platform with $7.2 billion of investable capital.

Positive

• Stable monthly distribution offering of $0.07 per share reflects consistent cash flow to stockholders.

• Investment focus on U.S. middle-market private companies demonstrates a diversified portfolio for potential growth.

• Management by PennantPark Investment Advisers, with $7.2 billion of investable capital indicates a strong financial backing and expertise in the middle market credit sector.

Negative

• Dependence on taxable net investment income for monthly distributions may lead to fluctuations in future payouts based on investment performance.

• Risk associated with the company's investment strategy in first lien secured debt, second lien secured debt, subordinated debt, and equity investments may expose shareholders to default risks.

• Uncertainty in the specific tax characteristics of the distribution until reported on Form 1099 after the end of the calendar year could impact tax planning for investors.

MIAMI, May 02, 2024 (GLOBE NEWSWIRE) -- PennantPark Investment Corporation (the "Company") (NYSE: PNNT) declares its monthly distribution for May 2024 of $0.07 per share, payable on June 3, 2024 to stockholders of record as of May 15, 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.

ABOUT PENNANTPARK INVESTMENT CORPORATION

PennantPark Investment Corporation is a business development company which primarily invests in U.S. middle-market private companies in the form of first lien secured debt, second lien secured debt, subordinated debt and equity investments. PennantPark Investment Corporation is managed by PennantPark Investment Advisers, LLC.

ABOUT PENNANTPARK INVESTMENT ADVISERS, LLC

PennantPark Investment Advisers, LLC is a leading middle market credit platform, managing $7.2 billion of investable capital, including available 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 Investment Corporation 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 Investment Corporation 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.

CONTACT:
Richard T. Allorto, Jr.
PennantPark Investment Corporation
(212) 905-1000
www.pennantpark.com

FAQ

<p>What is the monthly distribution announced by PennantPark Investment for May 2024?</p>

PennantPark Investment announced a monthly distribution of $0.07 per share for May 2024, payable on June 3, 2024 to stockholders of record as of May 15, 2024.

<p>How does PennantPark Investment primarily invest its funds?</p>

PennantPark primarily invests in U.S. middle-market private companies through first lien secured debt, second lien secured debt, subordinated debt, and equity investments.

<p>Who manages PennantPark Investment ?</p>

PennantPark Investment is managed by PennantPark Investment Advisers, , a leading middle market credit platform with $7.2 billion of investable capital.