PennantPark's Latest Monthly Distribution: What You Need to Know
PennantPark's Monthly Distribution Announcement
PennantPark Investment Corporation has announced a significant monthly distribution of $0.08 per share for January. This payment is scheduled to reach shareholders on February 3, to those who are on record as of January 15. Investors can look forward to this distribution coming from the company's taxable net investment income.
Insights into PennantPark Investment Corporation
This corporation operates as a vital player in the realm of business development companies. It focuses on investing in U.S. middle-market private entities through various financial structures, including secured debts and equity investments. These strategic methods provide pathways for growth and competitive advantages to their investment objectives.
Understanding PennantPark Investment Advisers, LLC
PennantPark Investment Advisers serves as the managing entity for PennantPark Investment Corporation. This firm is recognized for their prowess in the middle-market credit arena, overseeing approximately $8.9 billion in investable capital, including available leverage. Since its establishment in 2007, they have aimed to provide private equity firms and middle-market borrowers with creative financing solutions that cater to evolving market needs.
Focus on Middle-Market Opportunities
PennantPark's strategy centers around identifying and nurturing opportunities in the middle-market sector, a space often overlooked by larger investment firms. By targeting these companies, they not only diversify their portfolio but also contribute to the growth of small to mid-sized businesses which are crucial for economic stability.
Headquarters and Expansion
Headquartered in Miami, PennantPark Investment Advisers maintains strategic offices in key financial hubs such as New York, Chicago, Houston, Los Angeles, and Amsterdam. This geographical presence positions the firm advantageously to source deals and foster relationships across various markets.
Tax and Reporting Considerations
Investors can expect to receive detailed tax characteristics of their distributions reported on Form 1099 following the end of the calendar year. This transparency is part of PennantPark's commitment to keeping shareholders informed about their investments and earnings. The periodic reports filed with the Securities and Exchange Commission will provide further insights into the company’s performance and profitability.
Contacting PennantPark Investment Corporation
For additional inquiries, interested parties can connect with Richard T. Allorto, Jr. at PennantPark Investment Corporation. He can be reached at (212) 905-1000, or through the corporation's website, www.pennantpark.com.
Frequently Asked Questions
What is the monthly distribution amount announced by PennantPark?
PennantPark announced a monthly distribution of $0.08 per share for January.
When will the distribution be paid to shareholders?
The distribution will be paid on February 3 to shareholders of record as of January 15.
What type of income is the distribution expected to come from?
The distribution is expected to be paid from PennantPark's taxable net investment income.
Who manages PennantPark Investment Corporation?
PennantPark Investment Corporation is managed by PennantPark Investment Advisers, LLC, a leading credit platform.
How can one contact PennantPark Investment Corporation for more information?
Interested individuals can contact Richard T. Allorto, Jr. at (212) 905-1000 or visit their website at www.pennantpark.com.
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