Crescent Capital BDC, Inc. to Issue Special Dividend of $0.03 (NASDAQ:CCAP)

Crescent Capital BDC, Inc. (NASDAQ:CCAP) announced a special dividend on Wednesday, May 13th. Shareholders 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 by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 1 consecutive 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 decline. Equities 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 Trading Down 6.1%

Shares of NASDAQ CCAP traded down $0.80 during mid-day trading on Thursday, reaching $12.27. The company had a trading volume of 334,400 shares, compared to its average volume of 198,251. The stock has a market cap of $453.62 million, a price-to-earnings ratio of 13.05 and a beta of 0.59. Crescent Capital BDC has a 52 week low of $11.80 and a 52 week high of $16.40. The business’s 50-day moving average is $13.01 and its 200-day moving average is $13.80. 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 (NASDAQ:CCAP) last issued its earnings results on Wednesday, May 13th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01. The business had revenue of ($6.84) million for the quarter, compared to analyst estimates of $39.58 million. Crescent Capital BDC had a net margin of 20.64% and a return on equity of 9.32%. Equities analysts expect that Crescent Capital BDC will post 1.63 earnings per share for the current year.

Institutional Trading of Crescent Capital BDC

Large investors have recently bought and sold shares of the stock. Royal Bank of Canada increased its stake in Crescent Capital BDC by 3.6% during the 1st quarter. Royal Bank of Canada now owns 61,707 shares of the company’s stock valued at $1,056,000 after purchasing an additional 2,128 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Crescent Capital BDC during the second quarter worth $165,000. Quantbot Technologies LP purchased a new stake in shares of Crescent Capital BDC during the second quarter valued at $219,000. Invesco Ltd. raised its stake in Crescent Capital BDC by 31.4% in the 2nd quarter. Invesco Ltd. now owns 38,377 shares of the company’s stock worth $541,000 after acquiring an additional 9,180 shares during the last quarter. Finally, Jump Financial LLC purchased a new position in Crescent Capital BDC in the 2nd quarter worth $286,000. Hedge funds and other institutional investors 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.