Business
Crescent Capital BDC, Inc. Reports December 31, 2022 Financial Results; Declares a First Quarter 2023 Regular Dividend of $0.41 per Share
LOS ANGELES, Feb. 22, 2023 (GLOBE NEWSWIRE) -- Crescent Capital BDC, Inc. (“Crescent BDC” or “Company”) (NASDAQ: CCAP) today reported net investment income of
About this update from Crescent Capital Bdc, Inc.
[{"type":"text","content":"LOS ANGELES, Feb. 22, 2023 (GLOBE NEWSWIRE) -- Crescent Capital BDC, Inc. (“Crescent BDC” or “Company”) (NASDAQ: CCAP) today reported net investment income of $59.7 million, or $1.93 per share, and adjusted net investment income of $53.4 million, or $1.73 per share, for the year ended December 31, 2022. For the quarter ended December 31, 2022, net investment income was $16.1 million, or $0.52 per share, and adjusted net investment income was $15.0 million, or $0.49 per share.1 Reported net asset value per share was $19.83 at December 31, 2022. The Company announced that its Board of Directors declared a regular cash dividend for the first quarter of 2023 of $0.41 per share, which will be paid on April 17, 2023 to stockholders of record as of the close of business on March 31, 2023. Selected Financial Highlights ($ in millions, except per share amounts) As of and for the three months ended December 31, 2022 September 30, 2022 December 31, 2021 Investments, at fair value $ 1,263.0 $ 1,292.9 $ 1,270.4 Total assets $ 1,302.9 $ 1,339.3 $ 1,317.8 Total net assets $ 612.5 $ 622.6 $ 652.3 Net asset value per share $ 19.83 $ 20.16 $ 21.12 Investment income $ 34.6 $ 29.0 $ 24.1 Net investment income $ 16.1 $ 16.0 $ 12.5 Net realized gains (losses), net of taxes $ (0.0) $ (2.5) $ (0.4) Net change in unrealized gains (losses), net of taxes $ (13.5) $ (15.8) $ 0.7 Net increase (decrease) in net assets resulting from operations $ 2.6 $ (2.4) $ 12.8 Net investment income per share $ 0.52 $ 0.52 $ 0.42 Net realized gains (losses) per share, net of taxes $ (0.00) $ (0.08) $ (0.01) Net change in unrealized gains (losses) per share, net of taxes $ (0.44) $ (0.51) $ 0.02 Net increase (decrease) in net assets resulting from operations per share $ 0.08 $ (0.08) $ 0.44 Regular distributions paid per share $ 0.41 $ 0.41 $ 0.41 Special distributions paid per share — $ 0.05 $ 0.05 Non-GAAP Financial Measures1: Adjusted net investment income $ 15.0 $ 13.0 $ 12.7 Adjusted net investment income per share $ 0.49 $ 0.42 $ 0.43 Weighted average yield on income producing securities (at cost)2 10.8% 9.5% 7.5% Percentage of debt investments at floating rates 98.8% 98.7% 98.5% Portfolio & Investment Activity As of December 31, 2022 and 2021, the Company had investments in 129 and 134 portfolio companies with an aggregate fair value of $1,263.0 and $1,270.4 million...