PennantPark Q2 2023 Earnings Report
Key Takeaways
PennantPark Investment Corporation reported a net investment income of $16.6 million, or $0.26 per share, for the quarter ended March 31, 2023. The company's portfolio totaled $1,132.5 million, with a weighted average yield on interest bearing debt investments of 12.1%. A distribution of $0.20 per share was declared, an increase of 8.1% from the most recent distribution.
Net investment income was $16.6 million, or $0.26 per share.
Portfolio totaled $1,132.5 million with a weighted average yield on interest bearing debt investments of 12.1%.
Declared a distribution of $0.20 per share, an increase of 8.1% from the most recent distribution.
Investment income increased primarily due to the increase in the cost yield of the debt portfolio.
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PennantPark Revenue by Segment
Forward Guidance
PennantPark is positioned to capture an excellent vintage of investments, which is expected to enhance earnings over time.
Positive Outlook
- Another increase in the quarterly dividend was announced.
- Net investment income well covers the dividend.
- Positioned to capture an excellent vintage of investments.
- Investments are believed to enhance earnings over time.
- Dominion Voting Systems settlement is estimated to bring in $12 million.