Investment companies

PennantPark Floating Rate Capital Ltd. Declares Monthly Distribution for July 2024

Strategic Insights

Jul 2, 2024 — 1 min read

PennantPark Floating Rate Capital Ltd. (NYSE: PFLT) has declared its monthly distribution for July 2024 of $0.1025 per share, payable on August 1, 2024 to stockholders of record as of July 15, 2024. The distribution is expected to be paid from taxable net investment income. This announcement comes as the company operates as a regulated investment company (RIC), generating qualified interest income and short-term capital gains that may be exempt from U.S. withholding tax when distributed to non-U.S. stockholders.

Key Takeaways:

PennantPark Floating Rate Capital Ltd. has declared a monthly distribution of $0.1025 per share for July 2024.
The distribution is payable on August 1, 2024 to stockholders of record as of July 15, 2024.
The distribution is expected to be paid from taxable net investment income.
As a regulated investment company (RIC), the company 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 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, managed by PennantPark Investment Advisers, LLC, 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.
PennantPark Investment Advisers, LLC is a leading middle market credit platform, managing $7.5 billion of investable capital, including potential leverage.

Statistics:

Monthly distribution for July 2024: $0.1025 per share
Payable date: August 1, 2024
Record date: July 15, 2024
Total investable capital managed by PennantPark Investment Advisers, LLC: $7.5 billion

Sources:

(GlobeNewswire) - Press release from PennantPark Floating Rate Capital Ltd. dated July 2024
https://www.pennantpark.com/

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