Business
Capital Southwest Announces Financial Results for Fourth Fiscal Quarter and Fiscal Year Ended March 31, 2024 and Announces Total Dividends of $0.63 per share for the Quarter Ending June 30, 2024
CSWC Reports Pre-Tax Net Investment Income of $0.68 Per Share for Quarter Ended March 31, 2024 DALLAS, May 14, 2024 (GLOBE NEWSWIRE) -- Capital Southwest
About this update from Capital Southwest Corporation
[{"type":"text","content":"CSWC Reports Pre-Tax Net Investment Income of $0.68 Per Share for Quarter Ended March 31, 2024\nDALLAS, May 14, 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 fourth fiscal quarter and fiscal year ended March 31, 2024. Fourth Quarter Fiscal Year 2024 Financial Highlights Total Investment Portfolio: $1.5 billion Credit Portfolio of $1.3 billion: 97% 1st Lien Senior Secured Debt$154.6 million in new committed credit investments during the quarterWeighted Average Yield on Debt Investments: 13.3%Current non-accruals with a fair value of $33.8 million, representing 2.3% of the total investment portfolio Equity Portfolio of $132.0 million $2.9 million in new equity co-investments during the quarter Pre-Tax Net Investment Income: $29.8 million, or $0.68 per weighted average share outstandingDividends: Paid $0.57 per share Regular Dividend and $0.06 per share Supplemental Dividend 121% LTM Pre-Tax NII Regular Dividend CoverageTotal Dividends for the quarter ended March 31, 2024 of $0.63 per share Net Realized and Unrealized Depreciation: $15.9 million, or 1.1% of total investments at fair value $1.0 million of net depreciation related to the equity portfolio$15.6 million of net depreciation related to the credit portfolio$0.7 million of net appreciation related to I-45 SLF LLC During the quarter ended March 31, 2024, the board of managers of I-45 SLF LLC (\"I-45 SLF\") approved the dissolution and liquidation of I-45 SLF and distributed all of the assets of I-45 to its members Balance Sheet: Cash and Cash Equivalents: $32.3 millionTotal Net Assets: $755.7 millionNet Asset Value (“NAV”) per Share: $16.77 Fiscal Year 2024 Financial Highlights Total Investment Portfolio: Increased by $270.2 million in total fair value, from $1.2 billion to $1.5 billion, representing 22.4% growth during the year Credit Portfolio increased by $307.0 million, representing 30% growth during the year Operating Leverage: Improved to 1.7% as of March 31, 2024 from 1.9% as of March 31, 2023Pre-Tax Net Investment Income: $2.72 per weighted average diluted share compared to $2.30 per we...