Business
Crescent Capital BDC, Inc. Reports Second Quarter 2020 Financial Results; Declares a Third Quarter 2020 Regular Dividend of $0.41 per Share
LOS ANGELES, Aug. 10, 2020 (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. 10, 2020 (GLOBE NEWSWIRE) -- Crescent Capital BDC, Inc. (“Crescent BDC” or “Company”) (NASDAQ: CCAP) today reported net investment income of $13.0 million, or $0.46 per share, and a net increase in net assets resulting from operations of $56.4 million, or $2.00 per share, for the second quarter ended June 30, 2020. Reported net asset value per share was $18.12 at June 30, 2020 as compared to $16.52 at March 31, 2020.\n The increase in net asset value for the second quarter was primarily driven by unrealized gains from the impact of credit spreads tightening relative to the end of the first quarter. Declaration of Regular Dividend for Third Quarter 2020 The Company announced that its Board of Directors has declared a third quarter 2020 dividend of $0.41 per share, which will be paid on or around October 15, 2020 to stockholders of record as of the close of business on September 30, 2020. Selected Financial Highlights($ in millions, except per share amounts. Unaudited.) As ofJune 30, 2020 March 31, 2020 June 30, 2019Investments, at fair value $895.2 $883.2 $624.9 Total assets $926.3 $909.9 $637.2 Total net assets $510.3 $465.8 $320.8 Net asset value per share $18.12 $16.52 $19.75 Weighted average yield on income producing securities (at cost)1 7.9% 7.9% 8.4%Percentage of debt investments at floating rates 96.9% 96.0% 96.1% (1) Yield excludes investments on non-accrual status. Three Months Ended June 30, 2020 March 31, 2020 Total Amount Per Share Total Amount Per ShareTotal investment income $19.3 $0.69 $18.8 $0.72 Net investment income $13.0 $0.46 $11.6 $0.44 Net realized gains (losses) $(1.1) $(0.04) $(0.1) $(0.00)Net unrealized gains (losses), net of taxes $44.5 $1.59 $(82.2) $(3.14)Realized loss on asset acquisition n/a n/a $(3.8) $(0.14)Net increase (decrease) in net assets resulting from operations $56.4 $2.00 $(74.5) $(2.84)Dividend distributions per share $0.41 $0.41 Portfolio & Investing Activity As of June 30, 2020 and March 31, 2020, the Company had investments in 124 and 127 portfolio companies with an aggregate fair value of $895.2 million and $883.2 million, respectively. The portfolio at fair value was comprised of the following asset types: As of$ in millions June 30, 2020 March 31, 2020Investment Type Fair Value Percentage Fair Value PercentageSenior secured first lien $361.7 40.4% $387.2 43.8%Uni...