earnings
confidence high
sentiment neutral
materiality 0.85
PennantPark Q1 NII $0.11/sh; $59M realized gain; dividend restructured
PENNANTPARK INVESTMENT CORP
- Q1 NII $7.0M ($0.11/sh) vs $13.0M ($0.20) YoY; core NII $0.14/sh; distributions $0.24/sh.
- Realized $59.0M gain on sale of JF Intermediate equity for $67.5M; NAV $7.00/sh (down 1.5% QoQ).
- Credit facility upsized to $535M, maturity extended to 2030, pricing reduced to SOFR+210bps.
- Dividend structure: starting Apr 2026 total $0.08/sh monthly split $0.04 base + $0.04 supplemental through Dec 2026.
- Subsequent event: Issued $75M 7.0% Senior Unsecured Notes due Feb 2029.