PennantPark Investment Corporation Announces Monthly Distribution of $0.08 per Share

Rhea-AI Summary

PennantPark Investment (NYSE: PNNT) has announced a monthly distribution of $0.08 per share for July 2024. This dividend will be payable on August 1, 2024, to shareholders of record as of July 15, 2024. The distribution is expected to come from taxable net investment income. Detailed tax characteristics will be reported on Form 1099 after the calendar year-end and included in the company's periodic SEC filings.

PennantPark primarily invests in U.S. middle-market private companies through various debt and equity instruments. The company is managed by PennantPark Investment Advisers, , a middle-market credit platform with $7.5 billion in investable capital. PennantPark Investment Advisers operates from multiple locations including Miami, New York, and Chicago.

Positive

• Monthly distribution of $0.08 per share declared for July 2024.
• Distribution payable on August 1, 2024.
• Managed by PennantPark Investment Advisers, with $7.5 billion in investable capital.

Negative

• None.

Insights

Financial Analyst

PennantPark Investment Corporation's announcement of a monthly distribution of $0.08 per share is noteworthy for investors seeking steady income streams. Regular distributions provide a veneer of stability and can be attractive, particularly for those focusing on income generation, such as retirees.

However, it's important to evaluate the source of this distribution. The distribution is expected to be paid from taxable net investment income, which suggests that the company is generating sufficient earnings to support this payout without dipping into its capital base. This is a positive sign, as it indicates operational sustainability.

From a financial perspective, consistent distributions can sometimes mask underlying issues. It's important for investors to monitor the company's overall financial health, including earnings reports and cash flow statements, to ensure this payout is sustainable in the long run.

Dividend sustainability is key. If PennantPark continues to generate sufficient income to support these distributions, it could signal a well-managed portfolio of investments. On the other hand, any cut in future distributions might reflect underlying financial stress or market challenges faced by their portfolio companies.

Investors should balance the attractiveness of the dividend with a thorough examination of the company’s overall financial health and market conditions.

MIAMI, July 02, 2024 (GLOBE NEWSWIRE) -- PennantPark Investment Corporation (the "Company") (NYSE: PNNT) declares its monthly distribution for July 2024 of $0.08 per share, payable on August 1, 2024 to stockholders of record as of July 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 $7.5 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 the distribution amount for PNNT in July 2024?

The distribution amount for PennantPark Investment (NYSE: PNNT) in July 2024 is $0.08 per share.

When will the July 2024 distribution for PNNT be paid?

The July 2024 distribution for PennantPark Investment (NYSE: PNNT) will be paid on August 1, 2024.

What is the record date for PNNT's July 2024 distribution?

The record date for PennantPark Investment 's (NYSE: PNNT) July 2024 distribution is July 15, 2024.

From what source is PNNT's July 2024 distribution expected to be paid?

PennantPark Investment 's (NYSE: PNNT) July 2024 distribution is expected to be paid from taxable net investment income.

When will shareholders receive tax information for PNNT's July 2024 distribution?

Shareholders will receive tax information for PennantPark Investment 's (NYSE: PNNT) July 2024 distribution on Form 1099 after the end of the calendar year.