Business
Crescent Capital BDC, Inc. Reports March 31, 2023 Financial Results
Declares a Second Quarter 2023 Regular Dividend of $0.41 per Share LOS ANGELES, May 10, 2023 (GLOBE NEWSWIRE) -- Crescent Capital BDC, Inc. (“Crescent BDC” or
About this update from Crescent Capital Bdc, Inc.
[{"type":"text","content":"Declares a Second Quarter 2023 Regular Dividend of $0.41 per Share\nLOS ANGELES, May 10, 2023 (GLOBE NEWSWIRE) -- Crescent Capital BDC, Inc. (“Crescent BDC” or “Company”) (NASDAQ: CCAP) today reported net investment income of $17.5 million, or $0.54 per share, for the quarter ended March 31, 2023. Reported net asset value per share was $19.38 at March 31, 2023. On March 9, 2023, the Company completed its previously announced acquisition of First Eagle Alternative Capital BDC, Inc. (“First Eagle BDC”) (formerly NASDAQ: FCRD). The Company announced that its Board of Directors declared a regular cash dividend for the second quarter of 2023 of $0.41 per share, which will be paid on July 17, 2023 to stockholders of record as of the close of business on June 30, 2023. Selected Financial Highlights ($ in millions, except per share amounts) As of and for the three months ended March 31, 2023 December 31, 2022 March 31, 2022 Investments, at fair value $ 1,566.0 $ 1,263.0 $ 1,288.6 Total assets $ 1,631.1 $ 1,302.9 $ 1,317.5 Total net assets $ 718.4 $ 612.5 $ 654.3 Net asset value per share $ 19.38 $ 19.83 $ 21.18 Investment income $ 39.3 $ 34.6 $ 26.4 Net investment income $ 17.5 $ 16.1 $ 12.1 Net realized gains (losses), net of taxes $ 0.5 $ (0.0) $ 8.4 Net change in unrealized gains (losses), net of taxes $ (10.2) $ (13.5) $ (4.3)Net increase (decrease) in net assets resulting from operations $ 7.8 $ 2.6 $ 16.2 Net investment income per share $ 0.54 $ 0.52 $ 0.39 Net realized gains (losses) per share, net of taxes $ 0.01 $ (0.00) $ 0.27 Net change in unrealized gains (losses) per share, net of taxes $ (0.31) $ (0.44) $ (0.14)Net increase (decrease) in net assets resulting from operations per share $ 0.24 $ 0.08 $ 0.52 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 $ 17.5 $ 15.0 $ 12.9 Adjusted net investment income per share $ 0.54 $ 0.49 $ 0.42 Weighted average yield on income producing securities (at cost)2 11.4% 10.8% 7.5%Percentage of debt investments at floating rates 98.6% 98.8% 98.8% Portfolio & Investment Activity As of March 31, 2023 and December 31, 2022, the Company had investments in 187 and 129 portfolio companies with an aggregate fair value of $1,566.0 and $1,263.0 million, respectively. The portfolio at...