Business
Crescent Capital BDC, Inc. Reports First Quarter 2022 Financial Results; Declares a Second Quarter 2022 Regular Dividend of $0.41 per Share
LOS ANGELES, May 09, 2022 (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, May 09, 2022 (GLOBE NEWSWIRE) -- Crescent Capital BDC, Inc. (“Crescent BDC” or “Company”) (NASDAQ: CCAP) today reported net investment income of $12.1 million, or $0.39 per share, and Adjusted Net Investment Income of $12.9 million, or $0.42 per share1 for the quarter ended March 31, 2022. Reported net asset value per share was $21.18 as of March 31, 2022 as compared to $21.12 as of December 31, 2021. The Company announced that its Board of Directors declared a regular cash dividend for the second quarter of 2022 of $0.41 per share, which will be paid on July 15, 2022 to stockholders of record as of June 30, 2022. Additionally, the third in a series of four previously declared $0.05 per share special cash dividends will be paid on June 15, 2022 to stockholders of record as of June 3, 2022. Selected Financial Highlights($ in millions, except per share amounts) As of and for the Three Months Ended March 31, 2022 December 31, 2021 March 31, 2021Investments, at fair value $1,288.6 $1,270.4 $1,057.6 Total assets $1,317.5 $1,317.8 $1,076.8 Total net assets $654.3 $652.3 $570.0 Net asset value per share $21.18 $21.12 $20.24 Investment income $26.4 $24.1 $20.6 Net investment income $12.1 $12.5 $11.4 Net realized gains (losses), net of taxes $8.4 $(0.4) $1.8 Net change in unrealized gains (losses), net of taxes $(4.3) $0.7 $8.3 Net increase (decrease) in net assets resulting from operations $16.2 $12.8 $21.5 Net investment income per share $0.39 $0.42 $0.41 Net realized gains (losses) per share, net of taxes $0.27 $(0.01) $0.06 Net change in unrealized gains (losses) per share, net of taxes $(0.14) $0.02 $0.30 Net increase (decrease) in net assets resulting from operations per share $0.52 $0.44 $0.76 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 $12.9 $12.7 $13.0 Adjusted net investment income per share $0.42 $0.43 $0.46 Weighted average yield on income producing securities (at cost)2 7.5% 7.5% 7.9%Percentage of debt investments at floating rates 98.8% 98.5% 98.4% Portfolio & Investment Activity As of March 31, 2022 and December 31, 2021, the Company had investments in 130 and 134 portfolio companies with an aggregate fair value of $1,288.6 and $1,270.4 million, respectively. The portfolio at fair value was...