PennantPark Investment Corporation Declares Continued Monthly Payout
PennantPark Investment Corporation Announces Monthly Distribution
PennantPark Investment Corporation (NYSE: PNNT) has declared its monthly distribution for October at $0.08 per share. This distribution is set to be payable on November 1 to stockholders recorded as of October 16. The payment is expected to derive from taxable net investment income, ensuring a stable return for investors. Specific tax details regarding this distribution will be reported to stockholders via Form 1099 at the end of the calendar year.
Understanding PennantPark Investment Corporation
PennantPark Investment Corporation plays a crucial role in the financial landscape as a business development company. It primarily targets investments in U.S. middle-market private companies, providing a robust range of financial solutions. Investments often take the form of first and second lien secured debt, subordinated debt, and equity investments. Management of the corporation is in the capable hands of PennantPark Investment Advisers, LLC.
The Role of PennantPark Investment Advisers, LLC
PennantPark Investment Advisers, LLC stands as a prominent player in the middle market credit sector. With a management portfolio of $8.0 billion in investable capital, the firm encompasses a variety of flexible financing solutions tailored for private equity firms and their portfolio companies, along with other middle-market borrowers. Established in 2007, its expansive reach includes major cities like Miami, New York, Chicago, Houston, Los Angeles, and Amsterdam.
Key Features of PennantPark's Business Model
PennantPark Investment Corporation’s strategy revolves around addressing the unique needs of middle-market companies, ensuring access to vital financial resources. By offering a blend of debt and equity investments, the corporation not only fosters the growth of its investment portfolio but also contributes to the success of its market partners. This dual approach of supporting businesses while generating returns for its investors exhibits their commitment to creating value and maintaining investor confidence.
Contact Information for Investors
For more inquiries or detailed information regarding investments, interested parties can reach out to:
Richard T. Allorto, Jr.
PennantPark Investment Corporation
(212) 905-1000
www.pennantpark.com
Frequently Asked Questions
What is the monthly distribution amount for PennantPark Investment Corporation?
The company has declared a monthly distribution amount of $0.08 per share for October.
When will the distribution be paid out?
The distribution is scheduled to be paid on November 1 to stockholders of record as of October 16.
What types of investments does PennantPark pursue?
PennantPark primarily invests in U.S. middle-market private companies, focusing on first lien secured debt, second lien secured debt, subordinated debt, and equity investments.
What is the role of PennantPark Investment Advisers, LLC?
PennantPark Investment Advisers, LLC manages the investment activities of PennantPark Investment Corporation, overseeing a substantial portfolio aimed at providing credit solutions in the middle market.
How can investors get more information?
Investors can contact Richard T. Allorto, Jr. via phone at (212) 905-1000 or visit the company's website for more details.
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