Crescent Capital BDC, Inc. (CCAP) To Go Ex-Dividend on August 31st

Crescent Capital BDC, Inc. (NASDAQ:CCAP) announced a special dividend on Wednesday, May 13th. Stockholders of record on Monday, August 31st will be given a dividend of 0.03 per share on Tuesday, September 15th. This represents a dividend yield of 107.0%. The ex-dividend date is Monday, August 31st.

Crescent Capital BDC has increased its dividend payment 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 79.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Crescent Capital BDC to earn $1.44 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 94.4%.

Crescent Capital BDC Stock Performance

Shares of CCAP opened at $10.54 on Friday. Crescent Capital BDC has a 12 month low of $10.50 and a 12 month high of $16.03. The firm has a fifty day simple moving average of $11.05 and a 200 day simple moving average of $12.07. The stock has a market capitalization of $388.40 million, a price-to-earnings ratio of -117.11 and a beta of 0.52. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.41.

Crescent Capital BDC (NASDAQ:CCAP) last released its earnings results on Monday, August 10th. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The business had revenue of $5.12 million during the quarter, compared to the consensus estimate of $37.12 million. Crescent Capital BDC had a negative net margin of 2.02% and a positive return on equity of 9.02%. Research analysts forecast that Crescent Capital BDC will post 1.51 EPS for the current fiscal year.

Insider Activity at Crescent Capital BDC

In other Crescent Capital BDC news, President Henry Chung purchased 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The shares were acquired at an average price of $10.89 per share, for a total transaction of $27,225.00. Following the purchase, the president owned 23,917 shares in the company, valued at approximately $260,456.13. The trade was a 11.67% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder & Guaranty Life Insur Fidelity sold 27,195 shares of the firm’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $10.60, for a total value of $288,267.00. Following the sale, the insider directly owned 4,072,564 shares of the company’s stock, valued at $43,169,178.40. This represents a 0.66% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.23% of the stock is owned by corporate insiders.

Institutional Trading of Crescent Capital BDC

Hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Crescent Capital BDC during the 4th quarter worth about $27,000. Rockefeller Capital Management L.P. bought a new position in Crescent Capital BDC in the 4th quarter valued at about $35,000. VPR Management LLC raised its holdings in Crescent Capital BDC by 150.0% in the 3rd quarter. VPR Management LLC now owns 5,000 shares of the company’s stock valued at $71,000 after acquiring an additional 3,000 shares during the period. Permanens Capital L.P. acquired a new stake in Crescent Capital BDC during the third quarter worth approximately $147,000. Finally, Beacon Pointe Advisors LLC acquired a new stake in Crescent Capital BDC during the second quarter worth approximately $111,000. Institutional investors and hedge funds 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.