Crescent Capital BDC, Inc. (CCAP) to Issue Special Dividend of $0.03 on June 15th

Crescent Capital BDC, Inc. (NASDAQ:CCAP) announced a special dividend on Wednesday, May 13th. Investors of record on Sunday, May 31st will be given a dividend of 0.03 per share on Monday, June 15th. The ex-dividend date is Friday, May 29th.

Crescent Capital BDC has raised 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% meaning 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 Stock Performance

NASDAQ:CCAP opened at $11.99 on Friday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.24. Crescent Capital BDC has a 12-month low of $11.80 and a 12-month high of $16.40. The stock has a 50-day moving average price of $12.98 and a 200 day moving average price of $13.78. The stock has a market capitalization of $443.27 million, a P/E ratio of 29.24 and a beta of 0.59.

Crescent Capital BDC (NASDAQ:CCAP) last released its 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. Crescent Capital BDC had a return on equity of 9.20% and a net margin of 9.26%.The firm had revenue of ($6.84) million during the quarter, compared to analysts’ expectations of $39.58 million. Equities research analysts forecast that Crescent Capital BDC will post 1.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Crescent Capital BDC

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cobblestone Capital Advisors LLC NY boosted its stake in Crescent Capital BDC by 1.3% during the third quarter. Cobblestone Capital Advisors LLC NY now owns 58,783 shares of the company’s stock valued at $838,000 after buying an additional 741 shares during the last quarter. Ieq Capital LLC boosted its stake in Crescent Capital BDC by 3.0% during the fourth quarter. Ieq Capital LLC now owns 25,470 shares of the company’s stock valued at $358,000 after buying an additional 746 shares during the last quarter. Mariner LLC lifted its stake in shares of Crescent Capital BDC by 0.3% in the 4th quarter. Mariner LLC now owns 451,774 shares of the company’s stock valued at $6,369,000 after purchasing an additional 1,492 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Crescent Capital BDC in the 4th quarter valued at approximately $27,000. Finally, LMG Wealth Partners LLC lifted its stake in shares of Crescent Capital BDC by 17.8% in the 1st quarter. LMG Wealth Partners LLC now owns 13,548 shares of the company’s stock valued at $165,000 after purchasing an additional 2,048 shares during the last quarter. 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.