Business
Crescent Capital BDC, Inc. Reports Second Quarter 2021 Financial Results; Declares a Third Quarter 2021 Regular Dividend of $0.41 per Share
LOS ANGELES, Aug. 11, 2021 (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. 11, 2021 (GLOBE NEWSWIRE) -- Crescent Capital BDC, Inc. (“Crescent BDC” or “Company”) (NASDAQ: CCAP) today reported net investment income of $11.0 million, or $0.39 per share, and adjusted net investment income of $14.8 million, or $0.53 per share,1 for the quarter ended June 30, 2021. Reported net asset value per share was $20.98 at June 30, 2021 as compared to $20.24 at March 31, 2021. The Company announced that its Board of Directors declared a regular cash dividend for the third quarter 2021 of $0.41 per share, which will be paid on October 15, 2021 to stockholders of record as of the close of business on September 30, 2021. Selected Financial Highlights($ in millions, except per share amounts) As of and for the Three Months Ended June 30, 2021 March 31, 2021 June 30, 2020Investments, at fair value $1,095.0 $1,057.6 $895.2 Total assets $1,128.5 $1,076.8 $926.3 Total net assets $591.0 $570.0 $510.3 Net asset value per share $20.98 $20.24 $18.12 Investment income $23.8 $20.6 $19.3 Net investment income $11.0 $11.4 $13.0 Net realized gains (losses), net of taxes $2.2 $1.8 $(1.1)Net change in unrealized gains (losses), net of taxes $19.4 $8.3 $44.5 Net increase (decrease) in net assets resulting from operations $32.6 $21.5 $56.4 Net investment income per share $0.39 $0.41 $0.46 Net realized gains (losses) per share, net of taxes $0.08 $0.06 $(0.04)Net change in unrealized gains (losses) per share, net of taxes $0.69 $0.30 $1.59 Net increase (decrease) in net assets resulting from operations per share $1.16 $0.76 $2.01 Distributions paid per share $0.41 $0.41 $0.41 Non-GAAP Financial Measures1: Adjusted net investment income $14.8 $13.0 $13.0 Adjusted net investment income per share $0.53 $0.46 $0.46 Weighted average yield on income producing securities (at cost)2 7.8% 7.9% 7.9%Percentage of debt investments at floating rates 99.6% 98.4% 96.9% Portfolio & Investment Activity As of June 30, 2021 and March 31, 2021, the Company had investments in 130 and 131 portfolio companies with an aggregate fair value of $1,095.0 and $1,057.6 million, respectively. The portfolio at fair value was comprised of the following asset types: Portfolio Asset Types: As of$ in millions June 30, 2021 March 31, 2021Investment Type Fair Value Percentage Fair Value PercentageSenior secured first lien $371.1 33.9% $365.0 34.5%Unitranche fi...