Quarterly ResultMay 7, 2026, 04:15 PM
PennantPark Floating Rate Capital Q2 NII $25.7M, EPS $0.26; Adjusts Dividend
AI Summary
PennantPark Floating Rate Capital Ltd. announced its second fiscal quarter 2026 financial results, reporting net investment income of $25.7 million, or $0.26 per share, and a net asset value of $10.47 per share. The company's investment portfolio totaled $2,580.3 million, with a debt to equity ratio of 1.61x. In response to the lower interest rate environment, the company is adjusting its dividend policy, setting a new monthly base dividend of $0.08 per share starting July, supplemented by a variable monthly dividend.
Key Highlights
- Net investment income for Q2 was $25.7 million, or $0.26 per share.
- Core net investment income per share was $0.27 for the quarter.
- Net asset value per share was $10.47 as of March 31, 2026, a (0.2)% quarterly change.
- Total investment portfolio stood at $2,580.3 million, with 99% variable-rate debt.
- Debt to equity ratio was 1.61x.
- The monthly base dividend will be adjusted to $0.08 per share starting July.
- PSSL II investment portfolio grew to $339.9 million, with $148.1 million in new investments.
- Weighted average yield on debt investments was 9.8% at quarter-end.