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MIAMI - PennantPark Floating Rate Capital Ltd. (NYSE:PFLT), a business development company, has declared a monthly distribution of $0.1025 per share for April 2025, payable on May 1, 2025, to shareholders of record as of April 15, 2025. This distribution represents part of PFLT’s impressive 11.05% dividend yield. According to InvestingPro data, the company has maintained consistent dividend payments for 15 consecutive years, demonstrating strong commitment to shareholder returns.
The company, which specializes in investments in U.S. middle-market private companies through floating rate senior secured loans, has indicated that the final tax characteristics of the distribution will be provided to shareholders on Form 1099 after the year’s end and in the company’s periodic report filed with the Securities and Exchange Commission. With a market capitalization of $974.55 million and impressive revenue growth of 47.56% over the last twelve months, PFLT has demonstrated strong market presence and growth potential.
As a regulated investment company, PennantPark generates qualified interest income and short-term capital gains that, under U.S. tax law, may be exempt from withholding tax when paid to non-U.S. stockholders with proper documentation. The tax characteristics of the distributions, including the portion that may be considered interest-related dividends and exempt from U.S. withholding tax, will be available on the company’s website.
Managed by PennantPark Investment Advisers, LLC, PennantPark Floating Rate Capital Ltd. is part of a larger credit platform that oversees $9.8 billion, including potential leverage. Since 2007, the firm has been offering a range of financing solutions to private equity firms, their portfolio companies, and other middle-market borrowers. InvestingPro analysis reveals the company maintains strong financial health with a current ratio of 3.94 and trades at an attractive P/E ratio of 8.07. For detailed insights and additional ProTips about PFLT’s financial performance, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
This distribution announcement is based on current tax laws, which are subject to change, and the company does not take responsibility for any loss resulting from the application of this information. Investors are advised to consult with qualified professionals for legal, tax, or accounting advice.
The information in this article is based on a press release statement from PennantPark Floating Rate Capital Ltd.
In other recent news, PennantPark Floating Rate Capital Ltd. reported its fourth-quarter 2024 earnings, surpassing analyst expectations with a net investment income of $0.37 per share, compared to the forecast of $0.32. The company’s revenue also exceeded projections, reaching $67.01 million against an anticipated $59.35 million. Additionally, PennantPark announced a monthly distribution of $0.1025 per share for March 2025, with the payment scheduled for April 1, 2025. The distribution is expected to be derived from taxable net investment income.
PennantPark’s portfolio grew by 11% to $2.2 billion, driven by new investments totaling $600-$700 million across 69 portfolio companies. The company completed the successful exit of its investment in Marketplace Events, achieving a 2.6x multiple on invested capital. Analysts from Raymond James highlighted PennantPark’s strategic focus on middle-market lending and successful exits as contributing factors to its strong results. Looking forward, PennantPark plans to grow its joint venture, the PennantPark Senior Secured Loan Fund, to $1.5 billion over the next 9-12 months.
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