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Mar 31, 2023
PennantPark Q2 2023 Earnings Report
Announced an 8.1% increase of its quarterly distribution to $0.20 per share and financial results.
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.
PennantPark
PennantPark
PennantPark Revenue by Segment
Revenue by Segment
First Lien Secured Debt Revenue
CapyFin.comSecond Lien Secured Debt Revenue
CapyFin.comSubordinated Debt Revenue
CapyFin.com 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.