Crescent Capital BDC, Inc. (CCAP) To Go Ex-Dividend on June 30th

Crescent Capital BDC, Inc. (NASDAQ:CCAP) announced a quarterly dividend on Wednesday, May 13th. Stockholders of record on Tuesday, June 30th will be paid a dividend of 0.34 per share on Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 11.3%. The ex-dividend date is Tuesday, June 30th.

Crescent Capital BDC has increased its dividend payment 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 dividend 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 Stock Down 8.3%

Shares of NASDAQ CCAP opened at $11.99 on Friday. The company’s 50-day simple moving average is $12.98 and its 200-day simple moving average is $13.78. Crescent Capital BDC has a 52-week low of $11.80 and a 52-week high of $16.40. The firm has a market cap of $443.27 million, a price-to-earnings ratio of 29.24 and a beta of 0.59. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.24.

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 the consensus estimate of $0.41 by $0.01. Crescent Capital BDC had a net margin of 9.26% and a return on equity of 9.20%. The business had revenue of ($6.84) million for the quarter, compared to analyst estimates of $39.58 million. Equities analysts predict that Crescent Capital BDC will post 1.63 EPS for the current fiscal year.

Trending Headlines about Crescent Capital BDC

Here are the key news stories impacting Crescent Capital BDC this week:

• Positive Sentiment: CCAP raised confidence in its dividend profile by declaring a second-quarter base dividend of $0.34 per share plus three special dividends of $0.03 per share tied to undistributed taxable income. Article Title
• Positive Sentiment: The company also reduced fees, cutting its base management fee to 1.00% from 1.25% and its incentive fee to 15.0% from 17.5%, which should improve earnings durability over time. Article Title
• Positive Sentiment: Q1 earnings per share beat estimates, coming in at $0.42 versus $0.41 expected. Article Title

Crescent Capital BDC Company Profile

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.