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United States. Securities and Exchange Commission

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

Strategic Insights

— 2 min read

PennantPark Floating Rate Capital Ltd. (the "Company") has declared its monthly distribution for September 2024 of $0.1025 per share, payable on October 1, 2024 to stockholders of record as of September 16, 2024. The distribution is expected to be paid from taxable net investment income. 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 Company's management team has indicated 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. 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 declaration of this monthly distribution is a testament to the Company's ability to generate consistent income for its shareholders. With its diversified investment portfolio and experienced management team, PennantPark Floating Rate Capital Ltd. remains a leader in the middle-market credit space.

Key Takeaways:

  • PennantPark Floating Rate Capital Ltd. has declared a monthly distribution of $0.1025 per share for September 2024, payable on October 1, 2024 to stockholders of record as of September 16, 2024.
  • The distribution is expected to be paid from taxable net investment income and will be reported to stockholders on Form 1099 after the end of the calendar year.
  • The Company operates as a regulated investment company ("RIC") and 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 can be found on the Company's website, www.pennantpark.com.
  • PennantPark Investment Advisers, LLC, the Company's management team, has a track record of providing investors access to middle-market credit through a comprehensive range of financing solutions.
  • The Company has $8.0 billion of investable capital, including potential leverage, and has been a leader in the middle-market credit space since its inception in 2007.

Statistics:

  • Distribution amount: $0.1025 per share
  • Payable date: October 1, 2024
  • Record date: September 16, 2024
  • Portfolio size: $8.0 billion, including potential leverage
  • Number of years of operation: 17 years (since inception in 2007)

Sources:

  • GlobeNewswire (MIL-OSI) - "PennantPark Floating Rate Capital Ltd. Declares Monthly Distribution for September 2024"
  • PennantPark Floating Rate Capital Ltd. website - "About Us" and "Investor Relations" sections
  • Securities and Exchange Commission filings - Form 10-K and Form 10-Q
  • PennantPark Investment Advisers, LLC website - "About Us" and "Investment Products" sections

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