Business
Capital Southwest Announces Financial Results for Fourth Quarter and Fiscal Year Ended March 31, 2021 and Announces Increase in Total Dividends to $0.53 per share for the Quarter Ended June 30, 2021
CSWC Reports Pre-Tax Net Investment Income of $0.44 Per Share for the Quarter Ended March 31, 2021 and Increases Regular Dividend to $0.43 Per Share DALLAS,
About this update from Capital Southwest Corporation
[{"type":"text","content":"CSWC Reports Pre-Tax Net Investment Income of $0.44 Per Share for the Quarter Ended March 31, 2021 and Increases Regular Dividend to $0.43 Per Share\nDALLAS, May 25, 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 fourth fiscal quarter and fiscal year ended March 31, 2021. Fourth Quarter Fiscal Year 2021 Financial Highlights Total Investment Portfolio: $688.4 million Credit Portfolio of $572.6 million: 92% 1st Lien Secured Debt$74.8 million in new committed credit investmentsWeighted Average Yield on Debt Investments: 10.8%No investments on non-accrual Equity Portfolio of $58.7 million, excluding investment in I-45 Senior Loan Fund (\"I-45 SLF\") $2.5 million in new committed equity co-investments CSWC Investment in I-45 SLF of $57.2 million at fair value I-45 SLF portfolio of $164.4 million Portfolio consists of 36 issuers: 95% 1st Lien Debt and 5% 2nd Lien Debt $91.0 million of debt outstanding at I-45 SLF as of March 31, 2021 I-45 SLF fund leverage of 1.27x 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 10.2% Pre-Tax Net Investment Income: $8.9 million, or $0.44 per weighted average diluted shareDividends: Paid $0.42 per share in a Regular Dividend, plus $0.10 per share in a Supplemental Dividend 108% LTM Pre-Tax NII Regular Dividend CoverageTotal Dividends for the quarter ended March 31, 2021 of $0.52 per share Net Realized and Unrealized Portfolio Appreciation: $2.6 million $1.9 million of net appreciation related to the equity portfolio$1.6 million of net appreciation related to the upper middle market debt portfolio, including I-45 SLF$0.9 million of net depreciation related to the lower middle market debt portfolio Realized Loss on Extinguishment of Debt: $0.5 million Redeemed remaining $37.1 million in aggregate principal amount of the 5.95% Notes due 2022 (the \"December 2022 Notes\") Raised $89.1 million in Unsecured Debt and Equity Capital $65.0 million in additional unsecured notes due January 2026 issued at a price of 102.11% of the aggregate principal amount, ...