Business
Capital Southwest Announces Financial Results for Fourth Quarter and Fiscal Year Ended March 31, 2022
CSWC Reports Pre-Tax Net Investment Income of $0.50 Per Share for the Quarter Ended March 31, 2022 DALLAS, May 23, 2022 (GLOBE NEWSWIRE) -- Capital Southwest
About this update from Capital Southwest Corporation
[{"type":"text","content":"CSWC Reports Pre-Tax Net Investment Income of $0.50 Per Share for the Quarter Ended March 31, 2022\nDALLAS, May 23, 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 fourth fiscal quarter and fiscal year ended March 31, 2022. Fourth Quarter Fiscal Year 2022 Financial Highlights Total Investment Portfolio: $936.6 million Credit Portfolio of $793.8 million: 93% 1st Lien Senior Secured Debt$99.6 million in new committed credit investmentsWeighted Average Yield on Debt Investments: 9.3%Three debt investments currently on non-accrual with a fair value of $14.0 million, representing 1.5% of the total investment portfolio No additional debt investments placed on non-accrual during the quarter Equity Portfolio of $85.2 million, excluding investment in I-45 Senior Loan Fund (\"I-45 SLF\") $3.2 million in new equity co-investments CSWC Investment in I-45 SLF of $57.6 million at fair value I-45 SLF portfolio of $176.7 million Portfolio consists of 42 issuers: 97% 1st Lien Debt $114.5 million of debt outstanding at I-45 SLF as of March 31, 2022 I-45 SLF fund leverage of 1.59x debt to equity at fair value at quarter end I-45 SLF paid a $1.9 million quarterly dividend to CSWC, an annualized yield of 12.9% Pre-Tax Net Investment Income: $12.0 million, or $0.50 per weighted average diluted shareDividends: Paid $0.48 per share Regular Dividend 105% LTM Pre-Tax NII Regular Dividend Coverage Net Realized and Unrealized Appreciation on Investments: $7.7 million $6.3 million of net appreciation related to the equity portfolio$1.4 million of net appreciation related to debt portfolio Balance Sheet: Cash and Cash Equivalents: $11.4 millionTotal Net Assets: $420.9 millionNet Asset Value (“NAV”) per Share: $16.86 Increase of 4.1% from $16.19 per share in prior quarter Fiscal Year 2022 Financial Highlights Total Investment Portfolio: Increased by $248.2 million (Fair Value), from $688.4 million to $936.6 million, representing 36.1% growth, during the year Credit Portfolio increased by $221.2 million Operating Leverage: Decreased to 2.20% as of March 31, 2022 from 2.42% as of Ma...