Business
Capital Southwest Announces Financial Results for Third Fiscal Quarter Ended December 31, 2020 and Announces Increase in Total Dividends to $0.52 per share for the Quarter Ended March 31, 2021
CSWC Reports Pre-Tax Net Investment Income of $0.52 Per Share DALLAS, Feb. 01, 2021 (GLOBE NEWSWIRE) -- Capital Southwest Corporation (“Capital Southwest,”
About this update from Capital Southwest Corporation
[{"type":"text","content":"CSWC Reports Pre-Tax Net Investment Income of $0.52 Per Share\nDALLAS, Feb. 01, 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 third fiscal quarter ended December 31, 2020. Third Quarter Fiscal Year 2021 Financial Highlights Total Investment Portfolio: $648.8 million Credit Portfolio of $531.1 million: 91% 1st Lien Senior Secured Debt$55.5 million in new committed credit investmentsWeighted Average Yield on Debt Investments: 10.6%One credit investment currently on non-accrual with a fair value of $0.7 million, representing 0.1% of the total investment portfolio No new credit investments placed on non-accrual during the quarter Equity Portfolio of $54.0 million, excluding investment in I-45 Senior Loan Fund (“I-45 SLF”) $2.0 million in new committed equity co-investments CSWC Investment in I-45 SLF of $63.6 million at fair value I-45 SLF portfolio of $159.6 million Portfolio consists of 38 issuers: 94% 1st Lien Debt and 6% 2nd Lien Debt $85.0 million of debt outstanding at I-45 SLF as of December 31, 2020 I-45 SLF fund leverage of 1.07x debt to equity at fair value at quarter end I-45 SLF paid a $1.7 million quarterly dividend to CSWC, an annualized yield of 10.6% Pre-Tax Net Investment Income: $10.0 million, or $0.52 per weighted average diluted shareDividends: Paid $0.41 per share Regular Dividend, $0.10 per share Supplemental Dividend 107% LTM Pre-Tax NII Regular Dividend CoverageTotal Dividends for the quarter ended December 31, 2020 of $0.51 per shareUndistributed Taxable Income at quarter end estimated at $1.09 per share Net Realized and Unrealized Appreciation on Investments: $7.1 million $6.5 million of net appreciation related to the equity portfolio$0.7 million of net appreciation related to the upper middle market debt portfolio, including I-45 SLF$0.1 million net depreciation related to the lower middle market debt portfolio Realized Loss on Extinguishment of Debt: $0.3 million Redeemed $20 million in aggregate principal amount of the 5.95% Notes due 2022 (the “December 2022 Notes”) Balance Sheet: Cash and Cash Equivalents: $43.7 millionT...