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PennantPark Investment Corporation

PennantPark Investment Corporation is a business development company and private equity fund focused on direct and mezzanine investments in middle market companies. It invests through mezzanine debt, senior secured loans, and equity, targeting U.S. companies with EBITDA of $10 million to $50 million and revenue of $50 million to $1 billion. The fund typically invests $10 million to $100 million across the capital structure, with mezzanine and senior secured loans between $15 million and $50 million, and may make equity investments of up to $250 million. It may also make non-control equity and debt investments.

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News & notes moving PNNT
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PennantPark Investment declares $0.08 monthly dividend

PennantPark Investment Corporation has declared a monthly dividend of $0.08 per share, in line with its previous distribution. The dividend consists of a base dividend of $0.04 per share and a supplemental dividend of $0.04 per share. The dividend is payable on October 1 to shareholders of record as of September 15, with the ex-dividend date also set for September 15. The forward yield is 26.02%.
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PennantPark Floating Rate Capital Offers More Sustainable Dividend Than PennantPark Investment

PennantPark Floating Rate Capital and PennantPark Investment both reported third-quarter fiscal 2026 results on August 10, revealing a sharp divergence in dividend sustainability. PennantPark Floating Rate Capital's core net investment income of 26 cents per share covered its 24-cent quarterly base dividend, while PennantPark Investment's core net investment income of 14 cents fell short of its 24-cent quarterly distribution. PennantPark Investment's CFO Rick Allorto confirmed the gap is being funded by spillover income, which he expects to decline to about $0.40 per share by year-end 2026 from a peak of over a dollar per share. PennantPark Floating Rate Capital had already rebased its monthly dividend from 10 cents to 8 cents in mid-2026 and added a variable supplemental tied to 50% of excess net investment income, making its payout structurally sustainable. PennantPark Investment trades at 0.57 times book value with a 37.7% one-year drawdown, appealing to turnaround investors but considered too risky for retirees seeking reliable income.
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PennantPark plans to grow JV by another couple hundred million over next 12 to 18 months

PennantPark Investment Corporation outlined plans to grow its PSLF joint venture portfolio by another couple hundred million dollars over the next 12 to 18 months. CEO Arthur Penn said the JV portfolio currently totals $1.3 billion with capacity to reach approximately $1.5 billion, and the company recently reduced funding costs through a revolver repricing and a July refinancing of a $300 million securitization that lowered the weighted average spread by 97 basis points to 1.69%. CFO Richard Allorto estimated the refinancing actions will add about $0.005 per share to PNNT's quarterly earnings, or roughly $0.02 annually. For the quarter ended June 30, core net investment income was $0.14 per share, exceeding the base dividend of $0.12 per share, while NAV per share declined 2.5% sequentially to $6.56, primarily due to supplemental dividend payments tied to undistributed taxable income.
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PennantPark Investment declares $0.08 monthly dividend

PennantPark Investment declared a monthly dividend of $0.08 per share, in line with the previous payout. The dividend consists of a base dividend of $0.04 per share and a supplemental dividend of $0.04 per share. It is payable on September 1 to shareholders of record as of August 14, with an ex-dividend date of August 14. The forward yield is 27.27%.
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PennantPark Investment Corporation Announces Monthly Distribution of $0.08 per Share

PennantPark Investment Corporation declared a monthly distribution of $0.08 per share for July 2026. The distribution consists of a $0.04 per share base dividend and a $0.04 per share supplemental dividend. It will be payable on August 3, 2026 to stockholders of record as of July 15, 2026. The distribution is expected to be paid from taxable net investment income.
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