Business
Capital Southwest Announces Financial Results for First Fiscal Quarter Ended June 30, 2024, Increases Regular Dividend to $0.58 per share and Declares a Supplemental Dividend of $0.06 per share for the Quarter Ending September 30, 2024
CSWC Reports Pre-Tax Net Investment Income of $0.69 Per Share for Quarter Ended June 30, 2024 DALLAS, Aug. 05, 2024 (GLOBE NEWSWIRE) -- Capital Southwest
About this update from Capital Southwest Corporation
[{"type":"text","content":"CSWC Reports Pre-Tax Net Investment Income of $0.69 Per Share for Quarter Ended June 30, 2024\nDALLAS, Aug. 05, 2024 (GLOBE NEWSWIRE) -- Capital Southwest Corporation (“Capital Southwest,” “CSWC” or the “Company”) (Nasdaq: CSWC), an internally managed business development company focused on providing flexible financing solutions to support the acquisition and growth of middle market businesses, today announced its financial results for the first fiscal quarter ended June 30, 2024. First Quarter Fiscal Year 2025 Financial Highlights Total Investment Portfolio: $1.5 billion Credit Portfolio of $1.3 billion: 98% 1st Lien Senior Secured Debt$105.1 million in new committed credit investments during the quarterWeighted Average Yield on Debt Investments: 13.3%Current non-accruals with a fair value of $27.8 million, representing 1.9% of the total investment portfolio Equity Portfolio of $132.8 million $3.0 million in new equity co-investments during the quarter Pre-Tax Net Investment Income: $31.3 million, or $0.69 per weighted average share outstandingDividends: Paid $0.57 per share Regular Dividend and $0.06 per share Supplemental Dividend 122% LTM Pre-Tax NII Regular Dividend CoverageTotal Dividends for the quarter ended June 30, 2024 of $0.63 per shareBoard of Directors approved an increase of the Regular Dividend to $0.58 per share and a Supplemental Dividend of $0.06 per share for the quarter ended September 30, 2024 Net Realized and Unrealized Depreciation: $14.8 million, or 1.0% of total investments at fair value $4.7 million of net depreciation related to the equity portfolio$10.1 million of net depreciation related to the credit portfolio Balance Sheet: Cash and Cash Equivalents: $33.3 millionTotal Net Assets: $777.3 millionNet Asset Value (“NAV”) per Share: $16.60 In commenting on the Company’s results, Bowen Diehl, President and Chief Executive Officer, stated, “The June quarter was another strong quarter for Capital Southwest, with $108 million of originations. Our portfolio continued to perform well, producing $0.69 of pre-tax net investment income per share for the quarter, which more than earned both our $0.57 per share regular dividend and our $0.06 per share supplemental dividend paid for the quarter. In consideration of the strong performance of our portfolio, the Board of Directors has increased the regular quarterly...