Factoids
Yield + CAGR at a low RRR

Why PennantPark Floating Rate Capital Is A Tough Call

PennantPark Floating Rate Capital (NASDAQ:PFLT) is a BDC (Business Development Company) that is vibrating with questions. Why does a BDC with calendar Q2-13 NII of $0.31/share (or a run rate of $1.24/year) have a full year NII (Net Investment Income) projection of $1.12/share and a 2014 projection of $1.09/share? Why is the NII projection falling? With last twelve months dividend growth of 9.07%, what are the prospects for forward dividend growth? Is the dividend safe enough to be an alternative to a junk bond fund or a BDC baby bond? In this article, I will provide answers to some of those questions. I will provide a metric focused look at the Q2-13 earnings; generate a NII/share projection; show

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