Crescent Capital BDC, Inc. (NASDAQ:CCAP) Declares $0.34 Quarterly Dividend

Crescent Capital BDC, Inc. (NASDAQ:CCAP) declared a quarterly dividend on Wednesday, May 13th. Investors of record on Tuesday, June 30th will be given a dividend of 0.34 per share on Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 10.4%. The ex-dividend date of this dividend is Tuesday, June 30th.

Crescent Capital BDC has raised its dividend by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 1 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 decline. Equities 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 Trading Down 1.1%

NASDAQ:CCAP opened at $13.07 on Thursday. The company has a market capitalization of $483.20 million, a P/E ratio of 13.90 and a beta of 0.59. The stock’s 50 day moving average price is $13.01 and its 200 day moving average price is $13.80. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.22 and a current ratio of 1.22. Crescent Capital BDC has a 52 week low of $11.80 and a 52 week high of $16.90.

Crescent Capital BDC (NASDAQ:CCAP) last posted its earnings results on Wednesday, May 13th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. The firm had revenue of ($6.84) million during the quarter, compared to analysts’ expectations of $39.58 million. Crescent Capital BDC had a net margin of 20.64% and a return on equity of 9.32%. On average, research analysts forecast that Crescent Capital BDC will post 1.63 EPS for the current fiscal year.

About Crescent Capital BDC

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.