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

Key Points

• Crescent Capital BDC declared a quarterly dividend of $0.34 per share, payable October 15 to shareholders of record on September 30. The dividend implies an annualized yield of approximately 11.6%.
• The dividend is currently covered by earnings, with a 79.1% payout ratio, though analysts expect the forward payout ratio to rise to 91.3% based on projected annual earnings of $1.49 per share.
• Crescent Capital BDC reported quarterly earnings of $0.36 per share, slightly below the $0.37 consensus estimate, while revenue of $5.12 million was well below the $37.12 million forecast.

Crescent Capital BDC, Inc. (NASDAQ:CCAP - Get Free Report) announced a quarterly dividend on Monday, August 10th. Stockholders 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 dividend yield of 11.6%. The ex-dividend date is Wednesday, September 30th.

Crescent Capital BDC has increased its dividend by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 1 consecutive 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. Equities 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 Performance

Shares of NASDAQ:CCAP opened at $11.68 on Tuesday. The company has a market capitalization of $430.41 million, a price-to-earnings ratio of 28.49 and a beta of 0.52. The firm's 50 day simple moving average is $11.16 and its 200 day simple moving average is $12.40. 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 has a fifty-two week low of $10.64 and a fifty-two week high of $16.03.

Crescent Capital BDC (NASDAQ:CCAP - Get Free Report) last released its quarterly earnings data on Monday, August 10th. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $5.12 million for the quarter, compared to the consensus estimate of $37.12 million. As a group, sell-side analysts forecast that Crescent Capital BDC will post 1.38 earnings per share for the current year.

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.

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