PennantPark Floating Rate Capital Ltd. declares a monthly distribution of $0.1025 per share, payable June 2, 2025.
Quiver AI Summary
PennantPark Floating Rate Capital Ltd. has announced a monthly distribution of $0.1025 per share for May 2025, set to be payable on June 2, 2025, to stockholders who hold shares as of May 15, 2025. This distribution will be funded from the company's taxable net investment income, with detailed tax characteristics to be provided on Form 1099 later in the year. As a regulated investment company, PennantPark may offer certain tax benefits related to interest-related dividends for non-U.S. stockholders. The company specializes in investing in middle-market private companies, primarily through floating rate senior secured loans. PennantPark Investment Advisers, LLC manages the firm and oversees approximately $10 billion in capital. The press release includes forward-looking statements and invites investors to consult their own advisors for specific legal and tax advice.
Potential Positives
- The declaration of a monthly distribution of $0.1025 per share indicates the company's ongoing commitment to returning value to its shareholders.
- The distribution is expected to be paid from taxable net investment income, highlighting the stability of the company's income generation.
- As a regulated investment company (RIC), the company may provide non-U.S. stockholders with tax-exempt distributions, potentially making it more attractive to international investors.
- The company emphasizes its focus on middle-market private companies, which could signify a strategic market position that may lead to growth opportunities.
Potential Negatives
- The forward-looking statements disclaimer indicates uncertainty in future performance, which may raise concerns among investors about the company's prospects.
- The reliance on taxable net investment income for the distribution may suggest potential volatility in returns, which could impact investor confidence.
- Potential changes in tax laws pose a risk to the tax-exempt status of distributions for non-U.S. stockholders, which could deter foreign investment.
FAQ
What is the distribution amount for May 2025 from PennantPark?
The declared monthly distribution for May 2025 is $0.1025 per share.
When will the distribution be paid to stockholders?
The distribution will be payable on June 2, 2025, to stockholders of record as of May 15, 2025.
What type of income will the distribution come from?
The distribution is expected to be paid from taxable net investment income.
How will tax characteristics of the distribution be reported?
Tax characteristics will be reported to stockholders on Form 1099 after the calendar year.
What does PennantPark Floating Rate Capital invest in?
PennantPark primarily invests in U.S. middle-market private companies through floating rate senior secured loans.
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 65 institutional investors add shares of $PFLT stock to their portfolio, and 45 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 removed 659,405 shares (-91.1%) from their portfolio in Q1 2025, for an estimated $7,378,741
- 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
- MILLENNIUM MANAGEMENT LLC added 314,064 shares (+94.4%) to their portfolio in Q4 2024, for an estimated $3,432,719
- TRUEMARK INVESTMENTS, LLC added 273,448 shares (+735.7%) to their portfolio in Q1 2025, for an estimated $3,059,883
- SOUND INCOME STRATEGIES, LLC added 265,162 shares (+8.0%) to their portfolio in Q1 2025, for an estimated $2,967,162
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
MIAMI, May 02, 2025 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NYSE: PFLT) declares its monthly distribution for May 2025 of $0.1025 per share, payable on June 2, 2025 to stockholders of record as of May 15, 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 approximately $10 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
