Crescent Capital BDC, Inc. (NASDAQ:CCAP) Declares Special Dividend of $0.03

Crescent Capital BDC, Inc. (NASDAQ:CCAP) declared a special dividend on Wednesday, May 13th. Investors of record on Monday, August 31st will be given a dividend of 0.03 per share on Tuesday, September 15th. The ex-dividend date of this dividend is Monday, August 31st.

Crescent Capital BDC has raised its dividend by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Crescent Capital BDC has a payout ratio of 97.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Crescent Capital BDC to earn $1.55 per share next year, which means the company may not be able to cover its $1.68 annual dividend with an expected future payout ratio of 108.4%.

Crescent Capital BDC Stock Performance

Shares of NASDAQ CCAP traded down $0.80 during trading on Thursday, reaching $12.27. 334,400 shares of the company traded hands, compared to its average volume of 198,251. The firm’s fifty day simple moving average is $13.01 and its 200 day simple moving average is $13.80. The stock has a market cap of $453.62 million, a P/E ratio of 13.05 and a beta of 0.59. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.24. Crescent Capital BDC has a 12-month low of $11.80 and a 12-month high of $16.40.

Crescent Capital BDC (NASDAQ:CCAP) last announced its earnings results on Wednesday, May 13th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.01. Crescent Capital BDC had a net margin of 20.64% and a return on equity of 9.32%. The company had revenue of ($6.84) million during the quarter, compared to analyst estimates of $39.58 million. As a group, research analysts anticipate that Crescent Capital BDC will post 1.63 earnings per share for the current fiscal year.

Crescent Capital BDC Company Profile

Crescent Capital BDC, Inc is a closed-end, externally managed business development company that provides flexible financing solutions to middle market companies in the United States. Trading on the Nasdaq under the ticker CCAP, the firm offers investors exposure to a diversified portfolio of debt and equity instruments, targeting businesses with attractive risk-adjusted return profiles. Its primary objective is to generate current income through interest payments and potential capital appreciation via selective equity co-investments.

The company’s investment strategy emphasizes senior secured loans, unsecured second-lien loans, mezzanine debt, as well as preferred and common equity co-investments.