5 Cheap Monthly Dividend Stocks To Buy

3. PennantPark Floating Rate Capital Ltd. (NYSE:PFLT)

Share Price as of January 13: $12.06

PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) is an American investment management company that invests in US middle-market companies and generates income through them. In fiscal Q4 2022, the company reported a total investment income of $28.7 million, up 33.2% from the same period last year. The company’s cash and cash equivalents for the quarter came in at $48 million and at the end of September, its operating cash flow amounted to $50 million.

PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) has been making regular dividend payments to shareholders since 2016. It currently offers a monthly dividend of $0.095 per share and has a dividend yield of 9.45%, as of January 13.

PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) is trading at a share price of $12.06, as of January 13, becoming one of the cheap monthly dividend stocks on our list.

At the end of Q3 2022, 5 hedge funds in Insider Monkey’s database owned stakes in PennantPark Floating Rate Capital Ltd. (NYSE:PFLT), up from 3 in the previous quarter. These stakes have a total value of over $5.8 million. Citadel Investment Group was one of the company’s leading stakeholders in Q3.

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