PennantPark Investment Corporation Announces Monthly Distribution of $0.08 per Share

Rhea-AI Summary

PennantPark Investment (NYSE: PNNT) has announced its monthly distribution of $0.08 per share for December 2024. The distribution will be payable on January 2, 2025, to stockholders of record as of December 16, 2024.

The payment is expected to come from taxable net investment income, with specific tax characteristics to be reported to stockholders on Form 1099 after the calendar year end. The company operates as a business development company, primarily investing in U.S. middle-market private companies through various debt and equity instruments. It is managed by PennantPark Investment Advisers, , a middle market credit platform managing $8.7 billion of investable capital.

Positive

• Consistent monthly dividend distribution maintained at $0.08 per share
• Strong asset management base with $8.7 billion of investable capital under management

Negative

• None.

Insights

Financial Analyst

The monthly distribution announcement of $0.08 per share maintains PNNT's consistent dividend policy. With a market cap of $434.9M, this translates to an annualized dividend yield of approximately 12% at current market prices. The distribution comes from taxable net investment income, indicating healthy underlying business operations.

Notable is PennantPark's substantial $8.7B of investable capital, including leverage, which provides significant earning potential. As a BDC focused on middle-market lending, their diverse geographic presence across major financial centers positions them well to source quality deals. The steady monthly distribution pattern suggests management's confidence in the sustainability of their earnings stream from their middle-market debt and equity investments.

MIAMI, Dec. 03, 2024 (GLOBE NEWSWIRE) -- PennantPark Investment Corporation (the "Company") (NYSE: PNNT) declares its monthly distribution for December 2024 of $0.08 per share, payable on January 2, 2025 to stockholders of record as of December 16, 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 $8.7 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

What is PennantPark Investment 's (PNNT) December 2024 dividend amount?

PennantPark Investment (PNNT) declared a monthly dividend of $0.08 per share for December 2024.

When is PNNT's December 2024 dividend payable?

The dividend is payable on January 2, 2025, to stockholders of record as of December 16, 2024.

How much investable capital does PennantPark Investment Advisers manage?

PennantPark Investment Advisers manages $8.7 billion of investable capital, including available leverage.