PennantPark Floating Rate Capital Ltd. Declares Monthly Dividend
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PennantPark Floating Rate Capital Ltd. Declares Monthly Distribution
In an exciting announcement for investors, PennantPark Floating Rate Capital Ltd. (NYSE: PFLT) has declared its monthly distribution for September, set at $0.1025 per share. This dividend underscores the company’s commitment to delivering value to its shareholders. The distribution is scheduled to be paid on October 1, 2024, marking a significant event for stockholders who will be on record as of September 16, 2024.
Understanding the Distribution Details
This distribution is anticipated to come from the company's taxable net investment income, a positive sign for investors considering the implications for their returns. For tax purposes, shareholders can expect a detailed report of the tax characteristics of this distribution in Form 1099, which will be provided at the end of the calendar year along with the company’s periodic filings with the Securities and Exchange Commission.
Tax Exemptions for Non-U.S. Stockholders
PennantPark Floating Rate Capital operates as a regulated investment company (RIC) and offers qualified interest income and short-term capital gains, which may be exempt from U.S. withholding tax for non-U.S. stockholders. This strategic positioning allows international investors to benefit significantly when receiving dividends with appropriate documentation.
About PennantPark Floating Rate Capital Ltd.
PennantPark Floating Rate Capital Ltd. specializes in providing capital to U.S. middle-market companies primarily in the form of floating rate senior secured loans. Their investment strategy includes a diverse portfolio composed of first lien secured debt, second lien secured debt, and subordinated debt, alongside occasional equity investments. Managed by PennantPark Investment Advisers, LLC, the firm continues to showcase its robust approach to middle-market financing.
Insights into PennantPark Investment Advisers, LLC
PennantPark Investment Advisers, LLC stands as a prominent player in the middle market credit landscape, managing an impressive $8.0 billion in investable capital. Since its inception in 2007, the firm has facilitated access to middle-market credit by offering flexible financing solutions directed at private equity firms, their portfolio companies, and various other middle-market borrowers. Their expanding presence is marked by offices in key locations, including Miami, New York, Chicago, Houston, Los Angeles, and Amsterdam.
Conclusion and Shareholder Information
As investors leverage the ongoing growth and strategic planning of PennantPark Floating Rate Capital Ltd. (NYSE: PFLT), the announcement of the monthly distribution serves to enhance shareholder confidence. The company remains committed to transparency and effective communication with its investors, ensuring they are well-informed about their investments.
For any inquiries or further information, shareholders are encouraged to contact Richard T. Allorto, Jr. directly at (212) 905-1000 or visit the company’s official website for the latest updates.
Frequently Asked Questions
What is the monthly distribution amount for September 2024?
The monthly distribution announced for September 2024 is $0.1025 per share.
When will the distribution be paid?
The distribution is scheduled to be paid on October 1, 2024.
Who qualifies for the distribution?
Stockholders on record as of September 16, 2024, will qualify for the distribution.
What type of company is PennantPark Floating Rate Capital Ltd.?
PennantPark Floating Rate Capital Ltd. is a regulated investment company focusing on middle-market private companies.
How can non-U.S. stockholders benefit from dividends?
Non-U.S. stockholders may be exempt from U.S. withholding tax on certain distributions if proper documentation is provided.
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