Loading...
•
Dec 31, 2022
PennantPark Floating Rate Q1 2023 Earnings Report
Announced financial results for the first fiscal quarter ended December 31, 2022.
Key Takeaways
PennantPark Floating Rate Capital Ltd. reported a net investment income of $13.7 million, or $0.30 per share, for the quarter ended December 31, 2022. The company's investment portfolio totaled $1,151.1 million, with a weighted average yield on debt investments of 11.3%. A distribution of $0.10 per share was declared, marking a 5.3% increase from the previous distribution.
Net investment income was $13.7 million, or $0.30 per share.
The Board of Directors declared a distribution of $0.10 per share, a 5.3% increase.
The investment portfolio totaled $1,151.1 million with a weighted average yield on debt investments of 11.3%.
Invested $65.6 million in four new and 29 existing portfolio companies.
PennantPark Floating Rate
PennantPark Floating Rate
Forward Guidance
The company anticipates optimizing its balance sheets at both PFLT and PennantPark Senior Secured Loan Fund I LLC, which it believes will increase net investment income.
Positive Outlook
- Increase net investment income
- Primary focus on lower risk senior secured floating rate loans
- Positioned to preserve capital
- Protection against rising interest rates
- Protection against inflation