Business
Crescent Capital BDC, Inc. Reports First Quarter Net Investment Income Per Share of $0.63 and NAV Per Share of $20.28; Increases Quarterly Dividend
LOS ANGELES, May 08, 2024 (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 08, 2024 (GLOBE NEWSWIRE) -- Crescent Capital BDC, Inc. (“Crescent BDC” or “Company”) (NASDAQ: CCAP) today reported net investment income of $0.63 per share and net income of $0.76 per share for the quarter ended March 31, 2024. Net asset value per share increased to $20.28 compared to $20.04 as of December 31, 2023. Dividend Declarations The Company increased its regular quarterly cash dividend by $0.01 to $0.42 per share. The Company’s Board of Directors (the “Board”) declared a second quarter 2024 regular cash dividend of $0.42 per share to stockholders of record as of June 28, 2024, payable on July 15, 2024. The Board also announced a first quarter 2024 supplemental cash dividend of $0.11 per share to stockholders of record as of May 31, 2024, payable on June 17, 2024. Selected Financial Highlights($ in millions, except per share amounts) As of and for the three months ended March 31, 2024 December 31, 2023 March 31, 2023 Investments, at fair value $1,563.3 $1,582.1 $1,566.0 Total assets $1,620.4 $1,627.4 $1,631.1 Total net assets $751.7 $742.6 $718.4 Net asset value per share $20.28 $20.04 $19.38 Investment income $50.4 $50.0 $39.3 Net investment income $23.4 $22.8 $17.5 Net realized gains (losses), net of taxes $(0.2) $(6.6) $0.5 Net change in unrealized gains (losses), net of taxes $4.8 $14.7 $(10.2)Net increase (decrease) in net assets resulting from operations $28.0 $30.9 $7.8 Net investment income per share $0.63 $0.61 $0.54 Net realized gains (losses) per share, net of taxes $(0.00) $(0.18) $0.01 Net change in unrealized gains (losses) per share, net of taxes $0.13 $0.40 $(0.31)Net increase (decrease) in net assets resulting from operations per share $0.76 $0.83 $0.24 Regular distributions paid per share $0.41 $0.41 $0.41 Supplemental distributions paid per share $0.10 $0.09 - Weighted average yield on income producing securities (at cost)1 12.3% 12.3% 11.8%Percentage of debt investments at floating rates 97.5% 98.7% 98.6% Portfolio & Investment Activity As of March 31, 2024 and December 31, 2023, the Company had investments in 183 and 186 portfolio companies with an aggregate fair value of $1,563.3 and $1,582.1 million, respectively. The portfolio at fair value was comprised of the following asset types: Portfolio Asset Types: As of $ in millions March 31, 2024 December 31, 2023 Investment Type Fair ...