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

Crescent Capital BDC, Inc. (NASDAQ:CCAP) declared a special dividend on Wednesday, May 13th. Stockholders of record on Monday, November 30th will be paid a dividend of 0.03 per share on Tuesday, December 15th. The ex-dividend date of this dividend is Monday, November 30th.

Crescent Capital BDC has raised its dividend by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Crescent Capital BDC has a dividend payout ratio of 97.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. 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 midday trading on Thursday, reaching $12.27. 334,400 shares of the company traded hands, compared to its average volume of 198,251. The company has a market cap of $453.62 million, a price-to-earnings ratio of 13.05 and a beta of 0.59. The stock has a 50-day moving average price of $13.01 and a 200 day moving average price of $13.80. Crescent Capital BDC has a 52 week low of $11.80 and a 52 week high of $16.40. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.22 and a quick ratio of 1.22.

Crescent Capital BDC (NASDAQ:CCAP) last announced 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 analyst estimates of $39.58 million. Crescent Capital BDC had a net margin of 20.64% and a return on equity of 9.32%. Sell-side analysts anticipate that Crescent Capital BDC will post 1.63 earnings per share 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.