PennantPark Investment Corporation Declares January Dividend
PennantPark Investment Corporation Declares Monthly Distribution
PennantPark Investment Corporation (NYSE: PNNT) has declared its monthly distribution of $0.08 per share for January. This distribution will be payable to stockholders of record and represents the company's ongoing commitment to delivering value to its investors.
Distribution Payment Details
The announced distribution is set to be paid on February 3 to those shareholders who are confirmed on the books as of January 15. The funds are expected to be sourced from the company’s taxable net investment income, reflecting prudent financial management.
Tax Characteristics of the Distribution
After the end of the calendar year, stockholders will receive a Form 1099 detailing the specific tax implications of the distribution. This transparency is part of the company’s commitment to keeping its investors informed.
Overview of PennantPark Investment Corporation
PennantPark Investment Corporation operates as a business development company (BDC), primarily focusing on investing in U.S. middle-market private companies. The company’s strategy encompasses a range of investment types including first lien secured debt, second lien secured debt, subordinated debt, and equity investments.
Management and Investment Approach
The company is managed by PennantPark Investment Advisers, LLC, a renowned platform in middle-market credit. With a robust portfolio exceeding $8.9 billion, including leverage, it has catered to various borrowers since its establishment in 2007. Their comprehensive financial solutions aim to support private equity firms and their associated portfolio companies effectively.
Strategic Position in the Market
PennantPark Investment Advisers not only provides middle-market credit but also emphasizes creative and flexible financing options tailored to the unique needs of their clients. With offices in key locations such as Miami, New York, and Chicago, the firm is well-positioned to capitalize on market opportunities and drive growth for its stakeholders.
Commitment to Shareholders
PennantPark Investment Corporation remains committed to enhancing shareholder value through regular distributions and strategic investments, reflecting their focus on sustainable financial growth amidst evolving market conditions.
Frequently Asked Questions
What is the amount of the monthly distribution announced?
The monthly distribution announced by PennantPark Investment Corporation is $0.08 per share.
When is the distribution payment scheduled?
The distribution payment is scheduled for February 3 for shareholders of record as of January 15.
How is the distribution sourced?
The distribution is expected to be derived from the company's taxable net investment income.
What type of investments does PennantPark focus on?
PennantPark primarily invests in U.S. middle-market private companies through various debt instruments and equity investments.
Who manages PennantPark Investment Corporation?
PennantPark Investment Corporation is managed by PennantPark Investment Advisers, LLC, a leading platform in middle-market credit management.
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