LOS ANGELES, May 08, 2024 (GLOBE NEWSWIRE) — Crescent Capital BDC, Inc. (Crescent BDC or Company) (NASDAQ: CCAP) today reported net investment income of $0.63 per share and net income of $0.76 per share for the quarter ended March 31, 2024. Net asset value per share increased to $20.28 compared to $20.04 as of December 31, 2023.
Dividend Declarations
The Company increased its regular quarterly cash dividend by $0.01 to $0.42 per share. The Company’s Board of Directors (the Board) declared a second quarter 2024 regular cash dividend of $0.42 per share to stockholders of record as of June 28, 2024, payable on July 15, 2024. The Board also announced a first quarter 2024 supplemental cash dividend of $0.11 per share to stockholders of record as of May 31, 2024, payable on June 17, 2024.
Selected Financial Highlights
($ in millions, except per share amounts)
| As of and for the three months ended | ||||||||||||
| March 31, 2024 | December 31, 2023 | March 31, 2023 | ||||||||||
| Investments, at fair value | $ | 1,563.3 | $ | 1,582.1 | $ | 1,566.0 | ||||||
| Total assets | $ | 1,620.4 | $ | 1,627.4 | $ | 1,631.1 | ||||||
| Total net assets | $ | 751.7 | $ | 742.6 | $ | 718.4 | ||||||
| Net asset value per share | $ | 20.28 | $ | 20.04 | $ | 19.38 | ||||||
| Investment income | $ | 50.4 | $ | 50.0 | $ | 39.3 | ||||||
| Net investment income | $ | 23.4 | $ | 22.8 | $ | 17.5 | ||||||
| Net realized gains (losses), net of taxes | $ | (0.2 | ) | $ | (6.6 | ) | $ | 0.5 | ||||
| Net change in unrealized gains (losses), net of taxes | $ | 4.8 | $ | 14.7 | $ | (10.2 | ) | |||||
| Net increase (decrease) in net assets resulting from operations | $ | 28.0 | $ | 30.9 | $ | 7.8 | ||||||
| Net investment income per share | $ | 0.63 | $ | 0.61 | $ | 0.54 | ||||||
| Net realized gains (losses) per share, net of taxes | $ | (0.00 | ) | $ | (0.18 | ) | $ | 0.01 | ||||
| Net change in unrealized gains (losses) per share, net of taxes | $ | 0.13 | $ | 0.40 | $ | (0.31 | ) | |||||
| Net increase (decrease) in net assets resulting from operations per share | $ | 0.76 | $ | 0.83 | $ | 0.24 | ||||||
| Regular distributions paid per share | $ | 0.41 | $ | 0.41 | $ | 0.41 | ||||||
| Supplemental distributions paid per share | $ | 0.10 | $ | 0.09 | – | |||||||
| Weighted average yield on income producing securities (at cost)1 | 12.3 | % | 12.3 | % | 11.8 | % | ||||||
| Percentage of debt investments at floating rates | 97.5 | % | 98.7 | % | 98.6 | % | ||||||
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