PennantPark Reports Softer Q1 as PSSL II Grows and PNNT Splits Dividend

Overview

• PFLT posted NAV per share of $10.49 and net investment income of $26.6 million for the quarter ended December 31, 2025, with $0.31 per‑share distributions declared.
• PFLT recorded a net decrease in net assets from operations of $3.6 million and reported $78.4 million of net unrealized depreciation, ending the quarter at 1.57x debt‑to‑equity.
• New joint venture PSSL II commenced operations, invested about $200 million in the quarter, added roughly $133 million after quarter end, and increased its revolving credit facility to $250 million in February 2026.
• PNNT reported an investment portfolio of $1.22 billion, NAV per share of $7.00, net investment income of $7.0 million, net realized gains of $59.0 million, and a net unrealized depreciation change of $57.1 million.
• PNNT kept its monthly payout at $0.08 by shifting to a $0.04 base plus a $0.04 supplemental dividend beginning with the April payment and issued $75 million of 7.0% senior unsecured notes due 2029 on January 30, 2026.