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PennantPark Floating Rate Capital Ltd. reports financial results and distribution updates for a closed-end, externally managed, non-diversified investment company focused on floating-rate loans and other investments in U.S. middle-market companies. Its updates describe net investment income, net asset value, portfolio yields, non-accruals and the mix of first lien secured debt, subordinated debt, preferred stock and common equity.
Recurring news also covers monthly distributions, taxable net investment income, regulated investment company tax treatment, activity in the PSSL and PSSL II joint ventures, and capital-structure transactions such as debt securitizations conducted through consolidated subsidiaries.
PennantPark Floating Rate Capital Ltd. (NASDAQ: PFLT) will report its third fiscal quarter results for the period ending June 30, 2020, on August 5, 2020, after market close. A conference call is scheduled for August 6, 2020, at 10:00 a.m. ET, where the Company will discuss its financial performance. Interested parties can join the call by dialing the provided numbers. PennantPark primarily invests in U.S. middle-market private companies through floating rate senior secured loans and has a managed portfolio worth $3.7 billion.
PennantPark Floating Rate Capital Ltd. (PFLT) announced a monthly distribution for July 2020 of $0.095 per share, payable on August 3, 2020, to stockholders of record as of July 16, 2020. The distribution will originate from taxable net investment income. As a regulated investment company, PFLT generates qualified interest income that may be exempt from U.S. withholding tax for non-U.S. stockholders with appropriate documentation. Detailed tax characteristics will be reported to stockholders at year-end.
PennantPark Floating Rate Capital Ltd. (NASDAQ: PFLT) has announced its monthly distribution of $0.095 per share for June 2020, payable on July 1, 2020, to stockholders of record as of June 17, 2020. The distribution is anticipated to come from taxable net investment income, with specific tax characteristics reported on Form 1099 after the year-end. As a regulated investment company, PFLT focuses on investing in floating-rate senior secured loans to U.S. middle-market private companies and may also include equity investments.
PennantPark Floating Rate Capital Ltd. (NASDAQ: PFLT) reported its financial results for Q2 2020, ending March 31, showing a net investment income of $11.7 million or $0.30 per share. The investment portfolio stood at $1,179 million, with net assets of $469.8 million and a GAAP net asset value per share of $12.12. The company's unrealized depreciation amounted to $71.7 million, largely influenced by COVID-19 market disruptions. The annualized weighted average cost of debt was 4.1%. PFLT declared distributions of $0.285 per share during this quarter.
PennantPark Floating Rate Capital Ltd. (NASDAQ: PFLT) announced a monthly distribution of $0.095 per share for May 2020, payable on June 1, 2020. Stockholders of record as of May 18, 2020 will receive this distribution funded 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. Tax characteristics will be reported on Form 1099 at year-end.