PennantPark Floating Rate Capital Declares New Monthly Dividend Distribution
PennantPark Floating Rate Capital Declares Monthly Dividend
PennantPark Floating Rate Capital Ltd. (NYSE: PFLT) has announced its latest monthly distribution of $0.1025 per share. Shareholders can expect to receive this distribution on July 1, as long as they are on record by mid-June. The funds for this payment will originate from taxable net investment income, aligning with the company's commitment to providing value to its investors.
About the Monthly Distribution
The monthly distribution signifies an important aspect of the company’s financial strategy. By paying out from taxable net investment income, PennantPark ensures that shareholders receive a steady income stream. The specific tax characteristics of these distributions will be reported to shareholders at the end of the year, providing transparency and clarity on any tax liabilities.
Tax Benefits for Shareholders
PennantPark's structure as a regulated investment company (RIC) allows it to generate qualified interest income and short-term capital gains. Notably, some distributions may be exempt from U.S. withholding tax for non-U.S. shareholders, providing a potential advantage for international investors. The company is committed to ensuring that all investors understand the implications of their investments and the benefits they may derive.
What is PennantPark Floating Rate Capital Ltd.?
PennantPark Floating Rate Capital Ltd. positions itself as a prominent business development company focused on investing in U.S. middle-market private enterprises. Their investments primarily consist of floating rate senior secured loans, ranging from first-lien to subordinated debt. Occasionally, the company may also engage in equity investments, depending on market opportunities. This diverse investment approach is managed by PennantPark Investment Advisers, LLC.
Insights into PennantPark Investment Advisers, LLC
PennantPark Investment Advisers, LLC has established itself as a leading credit platform in the middle market sector, managing nearly $10 billion in investable capital. Founded in 2007, the firm provides a broad spectrum of financing solutions to help private equity firms and middle-market borrowers meet their needs. Its experienced team operates out of several major cities, including Miami, New York, Chicago, Houston, Los Angeles, and even Amsterdam, giving it a robust presence in the financial sector.
Commitment to Investors
From its inception, PennantPark has focused on providing flexible financing options that are tailored to the unique needs of its clients. This commitment not only enhances relationships with investors but also benefits borrowers across multiple industries. Their dedicated team continues to explore innovative solutions to dually support investors' interests and business growth.
Contact Information
For any inquiries or further information, interested parties can contact Richard T. Allorto, Jr. at PennantPark Floating Rate Capital Ltd. via phone at (212) 905-1000 or visit their website for more resources and updates.
Frequently Asked Questions
What is the new monthly distribution amount announced?
PennantPark Floating Rate Capital has announced a monthly distribution of $0.1025 per share.
When is the distribution payable?
The distribution is scheduled to be paid on July 1, with a record date set for June 16.
What type of income does the distribution come from?
The distribution is expected to come from taxable net investment income.
Who manages PennantPark Floating Rate Capital Ltd.?
PennantPark Floating Rate Capital is managed by PennantPark Investment Advisers, LLC.
Can non-U.S. shareholders benefit from this distribution?
Yes, some distributions may be exempt from U.S. withholding tax for non-U.S. shareholders, provided they meet certain conditions.
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