PennantPark Investment Corporation (NYSE: PNNT) has announced its monthly distribution for September 2024, setting it at $0.08 per share. This distribution is payable on October 1, 2024, to stockholders of record as of September 16, 2024. The company expects to pay the distribution from taxable net investment income.
PennantPark Investment Corporation primarily invests in U.S. middle-market private companies, primarily in the form of first lien secured debt, second lien secured debt, subordinated debt, and equity investments. The company is managed by PennantPark Investment Advisers, LLC, a leading middle-market credit platform with a managed capital of $8.0 billion, including available leverage.
It's worth noting that the 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.
In terms of financial performance, PennantPark Investment Corporation's monthly distribution of $0.08 per share for September 2024 is a key metric to consider. Comparing this to previous periods would provide insights into any changes in the distribution amount and the company's ability to generate taxable net investment income.
Furthermore, the company's managed capital of $8.0 billion, including available leverage, is an important metric that indicates the scale of PennantPark Investment Advisers, LLC's credit platform and its ability to provide financing solutions to private equity firms, portfolio companies, and other middle-market borrowers.
The market has reacted to these announcements by moving the company's shares -0.6% to a price of $6.96. Check out the company's full 8-K submission here.
