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

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

NASDAQ:CCAP traded down $0.78 during trading on Thursday, reaching $12.29. The company’s stock had a trading volume of 303,364 shares, compared to its average volume of 197,995. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a market cap of $454.47 million, a price-to-earnings ratio of 13.04 and a beta of 0.59. Crescent Capital BDC has a 12 month low of $11.80 and a 12 month high of $16.40. The firm has a 50 day moving average of $13.01 and a 200-day moving average of $13.80.

Crescent Capital BDC (NASDAQ:CCAP) last posted its quarterly 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. The company had revenue of ($6.84) million during the quarter, compared to the consensus estimate of $39.58 million. Crescent Capital BDC had a return on equity of 9.32% and a net margin of 20.64%. Research analysts expect 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.