Business
Crescent Capital BDC, Inc. Reports June 30, 2023 Financial Results; Declares a Third Quarter 2023 Regular Dividend of $0.41 per Share and Announces Inaugural Quarterly Supplemental Dividend
LOS ANGELES, Aug. 09, 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, Aug. 09, 2023 (GLOBE NEWSWIRE) -- Crescent Capital BDC, Inc. (“Crescent BDC” or “Company”) (NASDAQ: CCAP) today reported net investment income of $20.6 million, or $0.56 per share, for the quarter ended June 30, 2023. Reported net asset value per share was $19.58 at June 30, 2023. The Company announced that its Board of Directors (the “Board”) declared a regular cash dividend for the third quarter of 2023 of $0.41 per share, which will be paid on October 16, 2023 to stockholders of record as of the close of business on September 29, 2023. Additionally, the Board declared a supplemental cash dividend of $0.08 per share which will be paid on September 15, 2023 to stockholders of record as of August 31, 2023. Going forward, in addition to a quarterly base dividend of $0.41 per share, the Company’s Board expects to also declare, when applicable, a formula-based quarterly supplemental dividend in an amount to be determined each quarter. Selected Financial Highlights($ in millions, except per share amounts) As of and for the three months ended June 30, 2023 March 31, 2023 June 30, 2022 Investments, at fair value $ 1,581.1 $ 1,566.0 $ 1,285.3 Total assets $ 1,624.6 $ 1,631.1 $ 1,323.0 Total net assets $ 725.8 $ 718.4 $ 639.2 Net asset value per share $ 19.58 $ 19.38 $ 20.69 Investment income $ 46.7 $ 39.3 $ 26.7 Net investment income $ 20.6 $ 17.5 $ 15.5 Net realized gains (losses), net of taxes $ (6.6) $ 0.5 $ (1.8) Net change in unrealized gains (losses), net of taxes $ 8.6 $ (10.2) $ (14.6) Net increase (decrease) in net assets resulting from operations $ 22.6 $ 7.8 $ (0.9) Net investment income per share $ 0.56 $ 0.54 $ 0.50 Net realized gains (losses) per share, net of taxes $ (0.18) $ 0.01 $ (0.06) Net change in unrealized gains (losses) per share, net of taxes $ 0.23 $ (0.31) $ (0.47) Net increase (decrease) in net assets resulting from operations per share $ 0.61 $ 0.24 $ (0.03) Regular distributions paid per share $ 0.41 $ 0.41 $ 0.41 Special distributions paid per share - - $ 0.05 Non-GAAP Financial Measures1: Adjusted net investment income $ 20.6 $ 17.5 $ 12.7 Adjusted net investment income per share $ 0.56 $ 0.54 $ 0.41 Weighted average yield on income producing securities (at cost)2 11.7% 11.4% 8.3% Percentage of debt investments at floating rates 98.6% 98.6% 98.7% Portfolio & Investment Activity As of June 30...