Crescent Capital BDC, Inc. (NASDAQ:CCAP) Increases Dividend to $0.42 Per Share

Crescent Capital BDC, Inc. (NASDAQ:CCAP - Get Free Report) announced a quarterly dividend on Friday, May 10th, Wall Street Journal reports. Stockholders of record on Friday, June 28th will be paid a dividend of 0.42 per share on Monday, July 15th. This represents a $1.68 annualized dividend and a dividend yield of 9.24%. The ex-dividend date of this dividend is Friday, June 28th. This is an increase from Crescent Capital BDC's previous quarterly dividend of $0.41.

Crescent Capital BDC has a dividend payout ratio of 81.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. Equities research analysts expect Crescent Capital BDC to earn $2.02 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 81.2%.

Crescent Capital BDC Price Performance

Shares of CCAP traded up $0.25 during mid-day trading on Friday, reaching $18.19. The company had a trading volume of 263,708 shares, compared to its average volume of 100,031. The company has a market capitalization of $674.12 million, a P/E ratio of 7.94 and a beta of 0.81. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.98 and a quick ratio of 0.98. The company's 50-day moving average is $17.21 and its 200-day moving average is $16.85. Crescent Capital BDC has a twelve month low of $13.30 and a twelve month high of $18.20.

Crescent Capital BDC (NASDAQ:CCAP - Get Free Report) last released its earnings results on Wednesday, February 21st. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.57 by $0.04. Crescent Capital BDC had a return on equity of 11.32% and a net margin of 45.54%. The company had revenue of $50.00 million during the quarter, compared to analysts' expectations of $47.99 million. On average, equities analysts anticipate that Crescent Capital BDC will post 2.26 EPS for the current year.

Wall Street Analysts Forecast Growth

CCAP has been the subject of several research reports. Raymond James raised their price objective on shares of Crescent Capital BDC from $18.00 to $19.00 and gave the stock an "outperform" rating in a research report on Friday. Wells Fargo & Company increased their price target on Crescent Capital BDC from $16.00 to $16.50 and gave the company an "equal weight" rating in a research note on Monday, January 29th. Finally, Oppenheimer boosted their target price on shares of Crescent Capital BDC from $18.00 to $19.00 and gave the stock an "outperform" rating in a report on Friday, February 23rd.

About Crescent Capital BDC

Crescent Capital BDC, Inc is as a business development company private equity / buyouts and loan fund. It specializes in directly investing. It specializes in middle market. The fund seeks to invest in United States.

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