Business
Capital Southwest Announces Financial Results for Third Fiscal Quarter Ended December 31, 2022 and Announces Increase in Total Dividends to $0.58 per share for the Quarter Ended March 31, 2023
CSWC Reports Pre-Tax Net Investment Income of $0.60 Per Share for Quarter Ended December 31, 2022 DALLAS, Jan. 30, 2023 (GLOBE NEWSWIRE) -- Capital Southwest
About this update from Capital Southwest Corporation
[{"type":"text","content":"CSWC Reports Pre-Tax Net Investment Income of $0.60 Per Share for Quarter Ended December 31, 2022\nDALLAS, Jan. 30, 2023 (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, 2022. Third Quarter Fiscal Year 2023 Financial Highlights Total Investment Portfolio: $1.2 billion Credit Portfolio of $990.3 million: 96% 1st Lien Senior Secured Debt$160.5 million in new committed credit investmentsWeighted Average Yield on Debt Investments: 12.0%Current non-accruals with a fair value of $3.8 million, representing 0.3% of the total investment portfolio Equity Portfolio of $112.1 million, excluding investment in I-45 Senior Loan Fund (\"I-45 SLF\") $3.6 million in new equity co-investments CSWC Investment in I-45 SLF of $47.6 million at fair value I-45 SLF portfolio of $161.0 million Portfolio consists of 39 issuers: 94% 1st Lien Debt $104.0 million of debt outstanding at I-45 SLF as of December 31, 2022 I-45 SLF fund leverage of 1.75x 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 16.0% Pre-Tax Net Investment Income: $18.7 million, or $0.60 per weighted average share outstandingDividends: Paid $0.52 per share Regular Dividend and $0.05 per share Supplemental Dividend 108% LTM Pre-Tax NII Regular Dividend CoverageTotal Dividends for the quarter ended December 31, 2022 of $0.57 per shareUndistributed Taxable Income at quarter end estimated at $0.34 per share Net Realized and Unrealized Depreciation: $16.4 million Net realized and unrealized depreciation on investments of $13.0 million or (1.1%) of total portfolio at fair value $8.5 million of net depreciation related to the credit portfolio$3.3 million of net depreciation related to I-45 SLF$1.2 million of net depreciation related to the equity portfolio Net unrealized depreciation related to deferred tax associated with the Taxable Subsidiary of $3.4 million Balance Sheet: Cash and Cash Equivalents: $21.7 millionTotal Net Assets: $561.5 millionNet Asset Value (“NAV”) per Share: $16.25 In commenting on the C...