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

Crescent Capital BDC, Inc. (NASDAQ:CCAP) declared a quarterly dividend on Wednesday, May 13th. Investors 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 yield of 10.4%. The ex-dividend date of this dividend is Tuesday, June 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 every year for the last 1 years. Crescent Capital BDC has a payout ratio of 97.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. 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 Price Performance

NASDAQ:CCAP opened at $13.07 on Thursday. The firm has a market cap of $483.20 million, a price-to-earnings ratio of 13.90 and a beta of 0.59. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.24. The company’s 50-day moving average is $13.01 and its two-hundred day moving average is $13.80. Crescent Capital BDC has a 12-month low of $11.80 and a 12-month high of $16.90.

Crescent Capital BDC (NASDAQ:CCAP) last released its quarterly earnings results on Wednesday, May 13th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.01. The company had revenue of ($6.84) million for the quarter, compared to analysts’ expectations of $39.58 million. Crescent Capital BDC had a net margin of 20.64% and a return on equity of 9.32%. Research analysts expect that Crescent Capital BDC will post 1.63 EPS for the current year.

Hedge Funds Weigh In On Crescent Capital BDC

Institutional investors and hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. purchased a new position in Crescent Capital BDC during the fourth quarter worth approximately $27,000. Rockefeller Capital Management L.P. purchased a new stake in shares of Crescent Capital BDC during the 4th quarter valued at $35,000. VPR Management LLC grew its stake in shares of Crescent Capital BDC by 150.0% during the 3rd quarter. VPR Management LLC now owns 5,000 shares of the company’s stock valued at $71,000 after buying an additional 3,000 shares during the period. Westbourne Investments Inc. acquired a new stake in shares of Crescent Capital BDC during the 3rd quarter worth $141,000. Finally, Permanens Capital L.P. acquired a new stake in shares of Crescent Capital BDC during the 3rd quarter worth $147,000. Institutional investors and hedge funds own 49.46% of the company’s stock.

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.