Business
Capital Southwest Announces Financial Results for First Fiscal Quarter Ended June 30, 2022
CSWC Reports Pre-Tax Net Investment Income of $0.50 Per Share for Quarter Ended June 30, 2022 and Announces Increase in Quarterly Dividend to $0.50 per share
About this update from Capital Southwest Corporation
[{"type":"text","content":"CSWC Reports Pre-Tax Net Investment Income of $0.50 Per Share for Quarter Ended June 30, 2022 and Announces Increase in Quarterly Dividend to $0.50 per share for the Quarter Ended September 30, 2022\nDALLAS, Aug. 01, 2022 (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, 2022. First Quarter Fiscal Year 2023 Financial Highlights Total Investment Portfolio: $1.0 billion Credit Portfolio of $865.4 million: 94% 1st Lien Senior Secured Debt$145.0 million in new committed credit investmentsWeighted Average Yield on Debt Investments: 9.3%Four credit investments currently on non-accrual with a fair value of $16.1 million, representing 1.6% of the total investment portfolio Equity Portfolio of $89.5 million, excluding investment in I-45 Senior Loan Fund (\"I-45 SLF\") $3.3 million in new equity co-investments CSWC Investment in I-45 SLF of $51.7 million at fair value I-45 SLF portfolio of $173.5 million Portfolio consists of 40 issuers: 95% 1st Lien Debt $110.0 million of debt outstanding at I-45 SLF as of June 30, 2022 I-45 SLF fund leverage of 1.70x debt to equity at fair value at quarter end I-45 SLF paid a $1.5 million quarterly dividend to CSWC; an annualized yield of 11.9% Pre-Tax Net Investment Income: $12.6 million, or $0.50 per weighted average diluted shareDividends: Paid $0.48 per share Regular Dividend and $0.15 per share Special Dividend 105% LTM Pre-Tax NII Regular Dividend CoverageTotal Dividends for the quarter ended June 30, 2022 of $0.63 per shareUndistributed Taxable Income at quarter end estimated at $0.15 per share Net Realized and Unrealized Depreciation on Investments: $9.9 million $1.5 million of net appreciation related to the equity portfolio$5.5 million of net depreciation related to the credit portfolio$5.9 million of net depreciation related to I-45 SLF LLC Balance Sheet: Cash and Cash Equivalents: $18.8 millionTotal Net Assets: $453.0 millionNet Asset Value (“NAV”) per Share: $16.54 In commenting on the Company’s results, Bowen Diehl, President and Chief Executive Officer, stated, “Our portfolio conti...