Business
Capital Southwest Announces Financial Results for Fourth Quarter and Fiscal Year Ended March 31, 2020 and Announces Total Dividends of $0.51 Per Share for the Quarter Ended September 30, 2020
CSWC Reports Pre-Tax Net Investment Income of $0.40 Per Share for the Quarter Ended March 31, 2020 DALLAS, June 01, 2020 (GLOBE NEWSWIRE) -- Capital Southwest
About this update from Capital Southwest Corporation
[{"type":"text","content":"CSWC Reports Pre-Tax Net Investment Income of $0.40 Per Share for the Quarter Ended March 31, 2020\nDALLAS, June 01, 2020 (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, 2020.\n Fourth Quarter Fiscal Year 2020 Financial Highlights Total Investment Portfolio: $553.1 million Credit Portfolio of $474.3 million: 90% 1st Lien Secured Debt$38.1 million in new committed credit investmentsWeighted Average Yield on Debt Investments: 10.5%Four Upper Middle Market 1st Lien Senior Secured Debt investments currently on non-accrual with a fair value of $18.2 million, representing 3.3% of the total investment portfolio Equity Portfolio of $39.0 million, excluding investment in I-45 Senior Loan Fund (\"I-45 SLF\")CSWC Investment in I-45 SLF of $39.8 million I-45 SLF portfolio of $170.9 million Portfolio consists of 43 issuers: 97% 1st Lien Debt and 3% 2nd Lien Debt I-45 SLF paid a $2.1 million quarterly dividend to CSWC, an annualized yield of 21.4% Pre-Tax Net Investment Income: $7.4 million, or $0.40 per weighted average diluted shareDividends: Paid $0.41 per share in a Regular Dividend, plus $0.10 per share in a Supplemental Dividend 105.0% LTM Pre-Tax NII Regular Dividend CoverageTotal Dividends for the quarter of $0.51 per share Net Realized and Unrealized Portfolio Depreciation: $31.9 million $24.5 million of net depreciation related to the upper middle market portfolio, including I-45 SLF$7.4 million of net depreciation related to the lower middle market portfolio Balance Sheet: Cash and Cash Equivalents: $13.7 millionTotal Net Assets: $272.2 millionNet Asset Value (“NAV”) per Share: $15.13 Fiscal Year 2020 Financial Highlights Total Investment Portfolio: Increased by $29.0 million (Fair Value), from $524.1 million to $553.1 million, representing 6% growth, during the year Credit Portfolio increased by $106.6 million Sale of Media Recovery, Inc.: Completed successful exit of Media Recovery, resulting in net proceeds of $48.4 million and an IRR of 11.8%Pre-Tax Net Investment Income: $30.3 million for the fiscal ...