Crescent Capital BDC, Inc. (CCAP) to Issue Quarterly Dividend of $0.34 on October 15th

Crescent Capital BDC, Inc. (NASDAQ:CCAP) announced a quarterly dividend on Monday, August 10th. Investors of record on Wednesday, September 30th will be given a dividend of 0.34 per share on Thursday, October 15th. This represents a c) dividend on an annualized basis and a dividend yield of 11.9%. The ex-dividend date is Wednesday, September 30th.

Crescent Capital BDC has increased its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Crescent Capital BDC has a dividend payout ratio of 79.1% 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 $1.49 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 91.3%.

Crescent Capital BDC Stock Performance

CCAP opened at $11.44 on Wednesday. Crescent Capital BDC has a 52-week low of $10.64 and a 52-week high of $16.03. The firm has a market capitalization of $421.52 million, a PE ratio of -127.11 and a beta of 0.52. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.53 and a current ratio of 1.53. The business’s 50-day simple moving average is $11.16 and its 200 day simple moving average is $12.38.

Crescent Capital BDC (NASDAQ:CCAP) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The company had revenue of $5.12 million during the quarter, compared to the consensus estimate of $37.12 million. Crescent Capital BDC had a negative net margin of 2.02% and a positive return on equity of 8.88%. As a group, sell-side analysts expect that Crescent Capital BDC will post 1.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Crescent Capital BDC news, CEO Jason Breaux bought 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were acquired at an average cost of $11.19 per share, with a total value of $55,950.00. Following the acquisition, the chief executive officer owned 52,636 shares of the company’s stock, valued at $588,996.84. The trade was a 10.50% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Henry Chung purchased 4,500 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was acquired at an average price of $11.45 per share, for a total transaction of $51,525.00. Following the purchase, the president owned 20,722 shares in the company, valued at $237,266.90. This trade represents a 27.74% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 1.23% of the company’s stock.

Hedge Funds Weigh In On Crescent Capital BDC

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fidelity National Financial Inc. bought a new position in shares of Crescent Capital BDC in the second quarter valued at about $45,922,000. North Ground Capital boosted its holdings in shares of Crescent Capital BDC by 99.8% during the 4th quarter. North Ground Capital now owns 835,312 shares of the company’s stock worth $11,736,000 after buying an additional 417,312 shares during the period. Invesco Ltd. grew its stake in Crescent Capital BDC by 1,504.9% in the 4th quarter. Invesco Ltd. now owns 659,696 shares of the company’s stock valued at $9,269,000 after buying an additional 618,590 shares during the last quarter. Franklin Resources Inc. raised its holdings in Crescent Capital BDC by 7.0% in the 3rd quarter. Franklin Resources Inc. now owns 540,460 shares of the company’s stock valued at $7,707,000 after acquiring an additional 35,534 shares during the period. Finally, Bulldog Investors LLP raised its holdings in Crescent Capital BDC by 4.6% in the 4th quarter. Bulldog Investors LLP now owns 457,518 shares of the company’s stock valued at $6,428,000 after acquiring an additional 20,000 shares during the period. 49.46% of the stock is owned by institutional investors.

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.