Business
Capital Southwest Announces Financial Results for First Fiscal Quarter Ended June 30, 2021 and Announces Increase in Total Dividends to $0.54 per share for the Quarter Ended September 30, 2021
CSWC Reports Pre-Tax Net Investment Income of $0.45 Per Share for Quarter Ended June 30, 2021 and Increases Regular Dividend to $0.44 Per Share DALLAS, Aug.
About this update from Capital Southwest Corporation
[{"type":"text","content":"CSWC Reports Pre-Tax Net Investment Income of $0.45 Per Share for Quarter Ended June 30, 2021 and Increases Regular Dividend to $0.44 Per Share\nDALLAS, Aug. 02, 2021 (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, 2021. First Quarter Fiscal Year 2022 Financial Highlights Total Investment Portfolio: $798.6 million Credit Portfolio of $671.3 million: 90% 1st Lien Senior Secured Debt$135.1 million in new committed credit investmentsWeighted Average Yield on Debt Investments: 10.0%Two credit investments currently on non-accrual with a fair value of $14.5 million, representing 1.8% of the total investment portfolio Equity Portfolio of $66.1 million, excluding investment in I-45 Senior Loan Fund (\"I-45 SLF\") $3.8 million in new equity co-investments CSWC Investment in I-45 SLF of $61.3 million at fair value I-45 SLF portfolio of $169.6 million Portfolio consists of 38 issuers: 96% 1st Lien Debt and 4% 2nd Lien Debt $107.0 million of debt outstanding at I-45 SLF as of June 30, 2021 I-45 SLF fund leverage of 1.40x debt to equity at fair value at quarter end I-45 SLF paid a $1.6 million quarterly dividend to CSWC; an annualized yield of 10.4% Pre-Tax Net Investment Income: $9.4 million, or $0.45 per weighted average diluted shareDividends: Paid $0.43 per share Regular Dividend, $0.10 per share Supplemental Dividend 110% LTM Pre-Tax NII Regular Dividend CoverageTotal Dividends for the quarter ended June 30, 2021 of $0.53 per shareUndistributed Taxable Income at quarter end estimated at $0.83 per share Net Realized and Unrealized Appreciation on Investments: $6.1 million $4.9 million of net appreciation related to the equity portfolio$0.7 million of net appreciation related to the upper middle market debt portfolio, including I-45 SLF$0.5 million of net appreciation related to the lower middle market debt portfolio Balance Sheet: Received a leverage commitment from the SBA (as defined below) in the amount of $40.0 million in May 2021Cash and Cash Equivalents: $16.5 millionTotal Net Assets: $368.1 millionNet Asset Value (“NAV”) ...