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

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

Crescent Capital BDC has raised its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 1 consecutive 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 Trading Down 6.6%

Shares of CCAP stock traded down $0.86 during trading on Thursday, hitting $12.21. 378,982 shares of the stock traded hands, compared to its average volume of 198,451. The firm has a market capitalization of $451.40 million, a P/E ratio of 12.99 and a beta of 0.59. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.22 and a quick ratio of 1.22. The firm’s fifty day moving average price is $13.01 and its 200-day moving average price is $13.80. Crescent Capital BDC has a 52-week low of $11.80 and a 52-week high of $16.40.

Crescent Capital BDC (NASDAQ:CCAP) last released its quarterly earnings results on Wednesday, May 13th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.41 by $0.01. The firm had revenue of ($6.84) million for 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%. As a group, research analysts forecast that Crescent Capital BDC will post 1.63 earnings per share for the current fiscal year.

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.