Business
Crescent Capital BDC, Inc. Reports Third Quarter 2020 Financial Results; Declares a Fourth Quarter 2020 Regular Dividend of $0.41 per Share
LOS ANGELES, Nov. 04, 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, Nov. 04, 2020 (GLOBE NEWSWIRE) -- Crescent Capital BDC, Inc. (“Crescent BDC” or “Company”) (NASDAQ: CCAP) today reported net investment income of $12.2 million, or $0.43 per share, and a net increase in net assets resulting from operations of $38.3 million, or $1.36 per share, for the third quarter ended September 30, 2020. Reported net asset value per share was $19.07 at September 30, 2020 as compared to $18.12 at June 30, 2020.\n The increase in net asset value for the third quarter was primarily driven by unrealized gains from the impact of credit spread tightening relative to the end of the second quarter. Declaration of Regular Dividend for Fourth Quarter 2020 The Company announced that its Board of Directors has declared a fourth quarter 2020 dividend of $0.41 per share, which will be paid on or around January 15, 2021 to stockholders of record as of the close of business on December 31, 2020. Selected Financial Highlights($ in millions, except per share amounts. Unaudited.) As of September 30, 2020 June 30, 2020 September 30, 2019Investments, at fair value$961.1 $895.2 $692.3 Total assets$980.5 $926.3 $716.9 Total net assets$537.1 $510.3 $380.8 Net asset value per share$19.07 $18.12 $19.48 Weighted average yield on income producing securities (at cost)1 7.9% 7.9% 8.1%Percentage of debt investments at floating rates 98.0% 96.9% 97.7% Three Months Ended September 30, 2020 June 30, 2020 Total Amount Per Share Total Amount Per ShareTotal investment income$18.7 $0.66 $19.3 $0.69 Net investment income$12.2 $0.43 $13.0 $0.46 Net realized gains (losses)$(0.5) $(0.02) $(1.1) $(0.04)Net unrealized gains (losses), net of taxes$26.6 $0.95 $44.5 $1.59 Net increase (decrease) in net assets resulting from operations$38.3 $1.36 $56.4 $2.00 Dividend distributions per share $0.41 $0.41 Portfolio & Investing Activity As of September 30, 2020 and June 30, 2020, the Company had investments in 128 and 124 portfolio companies with an aggregate fair value of $961.1 million and $895.2 million, respectively. The portfolio at fair value was comprised of the following asset types: As of$ in millions September 30, 2020 June 30, 2020Investment Type Fair Value Percentage Fair Value PercentageSenior secured first lien $375.5 39.1% $361.7 40.4%Unitranche first lien2 362.0 37.7% 307.2 34.3%Unitranche first lien - last out2 15.0 1.5% 14.4 1.6%...