Welcome to our dedicated page for Pennantpark Floating Rate Cap news (Ticker: PFLT), a resource for investors and traders seeking the latest updates and insights on Pennantpark Floating Rate Cap stock.
PennantPark Floating Rate Capital Ltd. (NYSE: PFLT) is a closed-end, externally managed investment company that regularly reports on its activities in the U.S. middle-market credit space. The company focuses on floating rate loans and other investments made to U.S. middle-market companies, and its news flow reflects this focus through detailed portfolio and earnings updates.
News releases from PennantPark Floating Rate Capital Ltd. commonly cover quarterly and annual financial results, including net investment income, realized and unrealized gains or losses, and changes in net asset value. These announcements also provide insight into the composition of the investment portfolio, such as the mix of first lien secured debt, subordinated debt, and preferred and common equity, as well as the number of portfolio companies and the weighted average yield on debt investments.
The company frequently issues press releases announcing monthly distributions on its common stock, specifying the per-share amount, record date, and payment date. These distribution announcements are often accompanied by explanations that the distributions are expected to be paid from taxable net investment income, with final tax characteristics reported to stockholders and in SEC filings. Additional news items include scheduling notices for earnings releases and conference calls, where management discusses financial results and portfolio performance.
Investors following PFLT news can also see updates related to its joint ventures, such as portfolio statistics for PennantPark Senior Secured Loan Fund I LLC (PSSL) and financing arrangements involving PennantPark Senior Secured Loan Fund II LLC (PSSL II). For ongoing insight into the company’s credit investment activity, income generation, and capital structure developments, this news feed aggregates the company’s press releases and related disclosures.
PennantPark Floating Rate Capital Ltd. (PFLT) will report its third fiscal quarter results on August 4, 2021, after market close. A conference call is scheduled for August 5, 2021, at 9:00 a.m. ET to discuss these results. Interested parties can join by calling toll-free or through the provided international numbers. PennantPark focuses on investments in U.S. middle-market companies primarily through floating rate senior secured loans. The company is managed by PennantPark Investment Advisers, LLC, which oversees $4.7 billion in investable capital.
PennantPark Floating Rate Capital Ltd. (NASDAQ: PFLT) has appointed Richard Cheung as Chief Financial Officer and Treasurer, effective June 21, 2021. Cheung brings over a decade of experience from Guggenheim Partners and previously worked at Ernst & Young. CEO Arthur Penn expressed confidence in Cheung's ability to add value to the company and its shareholders. Aviv Efrat, the former CFO, will transition to focus on strategic growth initiatives within the organization. PennantPark Floating Rate Capital primarily invests in floating rate senior secured loans for U.S. middle-market companies.
PennantPark Floating Rate Capital Ltd. (NASDAQ: PFLT) announced a monthly distribution of $0.095 per share for June 2021, payable on July 1, 2021, to stockholders on record as of June 17, 2021. This distribution will stem from taxable net investment income. The company operates as a regulated investment company, generating qualified interest income that may be exempt from U.S. withholding tax for non-U.S. stockholders. Comprehensive details about tax characteristics will be provided to stakeholders via Form 1099 after the calendar year.
PennantPark Floating Rate Capital Ltd. (PFLT) reported its second fiscal quarter results for the period ending March 31, 2021. The company’s investment portfolio totaled $1,069.1 million, with net assets of $493.0 million. The GAAP net asset value per share increased by 0.1% to $12.71, while the adjusted net asset value per share rose by 2.3% to $12.60. Net investment income stood at $9.9 million, or $0.26 per share. The company declared distributions of $0.285 per share for the quarter. Overall, PFLT saw improvements in portfolio performance with net unrealized appreciation of $4.7 million.
PennantPark Floating Rate Capital Ltd. (NASDAQ: PFLT) announced a monthly distribution of $0.095 per share for May 2021, payable on June 1, 2021, to stockholders recorded by May 17, 2021. Payments will be sourced from taxable net investment income, with tax characteristics disclosed on Form 1099 at year-end. As a regulated investment company, distributions may be exempt from U.S. withholding tax for non-U.S. stockholders. PennantPark primarily invests in U.S. middle-market private companies through floating rate loans and occasionally equity investments.
PennantPark Floating Rate Capital Ltd. (PFLT) will report its financial results for the second fiscal quarter ending March 31, 2021, on May 5, 2021, post-market close. A conference call is scheduled for May 6, 2021, at 9:00 a.m. ET for discussion of these results. PennantPark Floating Rate Capital focuses on investing in U.S. middle-market private companies through floating rate senior secured loans. Managed by PennantPark Investment Advisers, LLC, which oversees $4.3 billion in capital, the company emphasizes flexible financing solutions for its borrowers.
PennantPark Floating Rate Capital Ltd. (PFLT) has announced a monthly distribution of $0.095 per share for April 2021, payable on May 3, 2021. Stockholders of record by April 15, 2021 will receive this payment from taxable net investment income. As a regulated investment company (RIC), PFLT's distributions may be exempt from U.S. withholding tax for non-U.S. stockholders with proper documentation. The company primarily invests in U.S. middle-market private companies through floating rate senior secured loans.
PennantPark Floating Rate Capital Ltd. has announced a public offering of $100 million in 4.25% unsecured notes due 2026, set to close on March 23, 2021. The notes mature on April 1, 2026, and can be redeemed at par plus a make-whole premium before maturity. Proceeds from the offering will be used to reduce credit facility obligations, invest in portfolio companies, or for general corporate purposes. Goldman Sachs, Keefe Bruyette & Woods, and Truist Securities are managing the offering. Investors should review risk information in the filed documents before investing.
PennantPark Floating Rate Capital Ltd. (NASDAQ: PFLT) has announced a monthly distribution of $0.095 per share for March 2021, payable on April 1, 2021. Stockholders recorded as of March 18, 2021 will receive this distribution, which is derived from taxable net investment income. As a regulated investment company, PFLT can distribute interest-related dividends that may be exempt from U.S. withholding tax for non-U.S. stockholders. More tax information will be provided on Form 1099 at year-end and on the company’s website.
PennantPark Floating Rate Capital Ltd. (PFLT) reported its financial results for Q1 of FY 2021, ending December 31, 2020. The company achieved a net asset value per share of $12.70, a 3.2% increase, while adjusted NAV rose 4.3% to $12.32. Net investment income was $10.1 million ($0.26 per share), a decline from $11.1 million in the previous year. The investment portfolio was valued at $1,067.3 million, with 7.5% yield on debt investments. The company declared distributions of $0.285 per share. A conference call is scheduled for February 10, 2021.
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