PennantPark Floating Rate Capital Ltd. declares a monthly distribution of $0.1025 per share for March 2025.
Quiver AI Summary
PennantPark Floating Rate Capital Ltd. has announced a monthly distribution of $0.1025 per share for March 2025, payable on April 1, 2025, to shareholders on record as of March 14, 2025. This distribution is expected to come from taxable net investment income, with specific tax characteristics to be reported to shareholders on Form 1099 and in the company’s periodic SEC filings. As a regulated investment company, PennantPark Floating Rate Capital primarily invests in U.S. middle-market private companies, utilizing floating rate senior secured loans and sometimes equity investments. The company is managed by PennantPark Investment Advisers, which has a substantial credit platform and manages $9.5 billion in investable capital. The press release also includes forward-looking statements and emphasizes that the information should not be construed as specific legal, tax, or accounting advice.
Potential Positives
- Announcement of a monthly distribution of $0.1025 per share, indicating ongoing commitment to shareholder returns.
- Distribution to be paid from taxable net investment income, reflecting the company’s operational profitability.
- Potential U.S. withholding tax exemptions for non-U.S. stockholders on certain portions of the distribution, enhancing attractiveness for international investors.
Potential Negatives
- The distribution amount of $0.1025 per share may indicate reduced income for stockholders, which could reflect on the company's overall financial health and performance.
- The reliance on taxable net investment income for the distribution may raise concerns about the company's ability to generate sufficient income for future distributions.
- The warning about forward-looking statements suggests uncertainty regarding the company's future performance, which could impact investor confidence.
FAQ
What is the March 2025 distribution amount for PennantPark Floating Rate Capital Ltd.?
The distribution amount for March 2025 is $0.1025 per share.
When will the distribution be paid to stockholders?
The distribution will be payable on April 1, 2025, to stockholders of record as of March 14, 2025.
How are the distributions characterized for tax reporting?
The specific tax characteristics will be reported to stockholders on Form 1099 after the calendar year.
What type of investments does PennantPark Floating Rate Capital Ltd. focus on?
The company primarily invests in U.S. middle-market private companies through floating rate senior secured loans.
Who manages PennantPark Floating Rate Capital Ltd.?
PennantPark Investment Advisers, LLC manages PennantPark Floating Rate Capital Ltd.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$PFLT Hedge Fund Activity
We have seen 66 institutional investors add shares of $PFLT stock to their portfolio, and 56 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- INVESCO LTD. added 963,709 shares (+inf%) to their portfolio in Q4 2024, for an estimated $10,533,339
- STRATEGIC FINANCIAL CONCEPTS, LLC added 662,266 shares (+1080.4%) to their portfolio in Q4 2024, for an estimated $7,238,567
- BALYASNY ASSET MANAGEMENT L.P. added 549,905 shares (+57.4%) to their portfolio in Q4 2024, for an estimated $6,010,461
- MARSHALL WACE, LLP removed 493,376 shares (-79.8%) from their portfolio in Q4 2024, for an estimated $5,392,599
- SOUND INCOME STRATEGIES, LLC added 356,781 shares (+12.0%) to their portfolio in Q4 2024, for an estimated $3,899,616
- MILLENNIUM MANAGEMENT LLC added 314,064 shares (+94.4%) to their portfolio in Q4 2024, for an estimated $3,432,719
- JPMORGAN CHASE & CO removed 250,725 shares (-99.6%) from their portfolio in Q4 2024, for an estimated $2,740,424
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
MIAMI, March 04, 2025 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NYSE: PFLT) declares its monthly distribution for March 2025 of $0.1025 per share, payable on April 1, 2025 to stockholders of record as of March 14, 2025. The distribution is expected to be paid from taxable net investment income. The final specific tax characteristics of the distribution will be reported to stockholders on Form 1099 after the end of the calendar year and in the Company's periodic report filed with the Securities and Exchange Commission.
The Company, which operates as a regulated investment company (“RIC”), generates qualified interest income and short-term capital gains that may be exempt from U.S. withholding tax when distributed to non-U.S. stockholders. The U.S. tax law permits a RIC to report the portion of distributions paid that represents interest-related dividends as exempt from U.S. withholding tax when paid to non-U.S. stockholders with proper documentation.
The specific tax characteristics of this distribution can be found on our website www.pennantpark.com .
ABOUT PENNANTPARK FLOATING RATE CAPITAL LTD.
PennantPark Floating Rate Capital Ltd. is a business development company which primarily invests in U.S. middle-market private companies in the form of floating rate senior secured loans, including first lien secured debt, second lien secured debt and subordinated debt. From time to time, the Company may also invest in equity investments. PennantPark Floating Rate Capital Ltd. is managed by PennantPark Investment Advisers, LLC.
ABOUT PENNANTPARK INVESTMENT ADVISERS, LLC
PennantPark Investment Advisers, LLC is a leading middle market credit platform, managing $9.5 billion of investable capital, including potential leverage. Since its inception in 2007, PennantPark Investment Advisers, LLC has provided investors access to middle market credit by offering private equity firms and their portfolio companies as well as other middle-market borrowers a comprehensive range of creative and flexible financing solutions. PennantPark Investment Advisers, LLC is headquartered in Miami and has offices in New York, Chicago, Houston, Los Angeles and Amsterdam.
FORWARD-LOOKING STATEMENTS
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. You should understand that under Section 27A(b)(2)(B) of the Securities Act and Section 21E(b)(2)(B) of the Exchange Act the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 do not apply to forward-looking statements made in periodic reports PennantPark Floating Rate Capital Ltd. files under the Exchange Act. All statements other than statements of historical facts included in this press release are forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in filings with the Securities and Exchange Commission. PennantPark Floating Rate Capital Ltd. undertakes no duty to update any forward-looking statement made herein. You should not place undue influence on such forward-looking statements as such statements speak only as of the date on which they are made.
The information contained herein is based on current tax laws, which may change in the future. The Company cannot be held responsible for any direct or incidental loss resulting from applying any of the information provided in this publication or from any other source mentioned. The information provided in this material does not constitute any specific legal, tax or accounting advice. Please consult with qualified professionals for this type of advice.
CONTACT:
Richard T. Allorto, Jr.
PennantPark Floating Rate Capital Ltd.
(212) 905-1000
www.pennantpark.com
