Business
Capital Southwest Announces Financial Results for Third Fiscal Quarter Ended December 31, 2021 and Announces Increase in Quarterly Dividend to $0.48 per share for the Quarter Ended March 31, 2022
CSWC Reports Pre-Tax Net Investment Income of $0.51 Per Share for Quarter Ended December 31, 2021 DALLAS, Jan. 31, 2022 (GLOBE NEWSWIRE) -- Capital Southwest
About this update from Capital Southwest Corporation
[{"type":"text","content":"CSWC Reports Pre-Tax Net Investment Income of $0.51 Per Share for Quarter Ended December 31, 2021\nDALLAS, Jan. 31, 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 third fiscal quarter ended December 31, 2021. Third Quarter Fiscal Year 2022 Financial Highlights Total Investment Portfolio: $876.8 million Credit Portfolio of $744.7 million: 91% 1st Lien Senior Secured Debt$261.5 million in new committed credit investmentsWeighted Average Yield on Debt Investments: 9.5%Three credit investments currently on non-accrual with a fair value of $14.0 million, representing 1.6% of the total investment portfolio No additional credit investments placed on non-accrual during the quarter Equity Portfolio of $74.5 million, excluding investment in I-45 Senior Loan Fund (\"I-45 SLF\") $6.8 million in new equity co-investments CSWC Investment in I-45 SLF of $57.6 million at fair value I-45 SLF portfolio of $180.0 million Portfolio consists of 42 issuers: 95% 1st Lien Debt $109.5 million of debt outstanding at I-45 SLF as of December 31, 2021 I-45 SLF fund leverage of 1.52x 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 11.8% Pre-Tax Net Investment Income: $11.8 million, or $0.51 per weighted average diluted shareDividends: Paid $0.47 per share Regular Dividend and $0.50 per share Supplemental Dividend 105% LTM Pre-Tax NII Regular Dividend CoverageTotal Dividends for the quarter ended December 31, 2021 of $0.97 per shareUndistributed Taxable Income at quarter end estimated at $0.32 per share Net Realized and Unrealized Appreciation on Investments: $0.7 million $4.8 million of net appreciation related to the equity portfolio$2.1 million of net depreciation related to the credit portfolio$2.0 million of net depreciation related to I-45 SLF LLC Balance Sheet: Cash and Cash Equivalents: $18.7 millionTotal Net Assets: $387.3 millionNet Asset Value (“NAV”) per Share: $16.19 In commenting on the Company’s results, Bowen Diehl, President and Chief Executive Officer, stated, “Our portfolio continued to...