Crescent Capital BDC, Inc. (CCAP) To Go Ex-Dividend on June 30th

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) dividend on an annualized basis and a dividend yield of 12.2%. The ex-dividend date of this dividend is Tuesday, June 30th.

Crescent Capital BDC has raised its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 1 years. Crescent Capital BDC has a 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 tumble. Research analysts expect Crescent Capital BDC to earn $1.47 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 92.5%.

Crescent Capital BDC Stock Up 1.6%

Shares of NASDAQ CCAP opened at $11.13 on Friday. The stock has a market capitalization of $410.14 million, a P/E ratio of 27.15 and a beta of 0.52. The stock’s fifty day moving average is $12.07 and its 200 day moving average is $13.17. Crescent Capital BDC has a 52 week low of $10.92 and a 52 week high of $16.03. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.53 and a current ratio of 1.53.

Crescent Capital BDC (NASDAQ:CCAP) last posted its quarterly earnings data on Wednesday, May 13th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.01. Crescent Capital BDC had a net margin of 9.26% and a return on equity of 9.34%. The business had revenue of ($6.83) million during the quarter, compared to analysts’ expectations of $39.58 million. Sell-side analysts forecast that Crescent Capital BDC will post 1.38 earnings per share for the current fiscal year.

Insider Transactions at Crescent Capital BDC

In other news, President Henry Chung purchased 4,500 shares of Crescent Capital BDC stock in a transaction dated Thursday, May 21st. The shares were bought at an average cost of $11.45 per share, for a total transaction of $51,525.00. Following the completion of the acquisition, the president owned 20,722 shares in the company, valued at approximately $237,266.90. This trade represents a 27.74% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jason Breaux acquired 5,000 shares of the stock in a transaction dated Wednesday, May 20th. The stock was purchased at an average cost of $11.19 per share, with a total value of $55,950.00. Following the purchase, the chief executive officer directly owned 52,636 shares of the company’s stock, valued at $588,996.84. This trade represents a 10.50% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 1.23% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Crescent Capital BDC

Several hedge funds have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. acquired a new position in Crescent Capital BDC in the 4th quarter valued at approximately $27,000. Rockefeller Capital Management L.P. acquired a new position in shares of Crescent Capital BDC during the fourth quarter worth $35,000. VPR Management LLC grew its stake in shares of Crescent Capital BDC by 150.0% in the third quarter. VPR Management LLC now owns 5,000 shares of the company’s stock worth $71,000 after purchasing an additional 3,000 shares during the last quarter. Permanens Capital L.P. bought a new stake in shares of Crescent Capital BDC in the third quarter worth $147,000. Finally, Beaumont Financial Advisors LLC acquired a new stake in Crescent Capital BDC in the first quarter valued at $127,000. 49.46% of the stock is currently owned by institutional investors and hedge funds.

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.