Crescent Capital BDC, Inc. (NASDAQ:CCAP) to Issue Quarterly Dividend of $0.34

Crescent Capital BDC, Inc. (NASDAQ:CCAP) announced a quarterly dividend on Monday, August 10th. Shareholders of record on Wednesday, September 30th will be paid a dividend of 0.34 per share on Thursday, October 15th. This represents a c) dividend on an annualized basis and a yield of 11.6%. The ex-dividend date is Wednesday, September 30th.

Crescent Capital BDC has raised its dividend by an average of 0.0%annually 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 79.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. 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 Down 0.8%

Shares of Crescent Capital BDC stock opened at $11.68 on Tuesday. The stock’s 50-day moving average is $11.16 and its 200 day moving average is $12.40. Crescent Capital BDC has a one year low of $10.64 and a one year high of $16.03. The firm has a market cap of $430.41 million, a price-to-earnings ratio of 28.49 and a beta of 0.52. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.53 and a quick ratio of 1.53.

Crescent Capital BDC (NASDAQ:CCAP) last issued its 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). Crescent Capital BDC had a return on equity of 9.34% and a net margin of 9.26%.The business had revenue of $5.12 million during the quarter, compared to the consensus estimate of $37.12 million. Equities research analysts anticipate that Crescent Capital BDC will post 1.38 EPS for the current 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.