Crescent Capital BDC, Inc. Reports Third Quarter 2024 Earnings Results; Declares a Fourth Quarter Base Dividend of $0.42 Per Share, and a Third Quarter Supplemental Dividend of $0.07 Per Share
LOS ANGELES, Nov. 12, 2024 (GLOBE NEWSWIRE) -- Crescent Capital BDC, Inc. ("Crescent BDC" or "Company") (NASDAQ:CCAP) today reported net investment income of $0.64 per share and net income of $0.41 per share for the quarter ended September 30, 2024. Reported net asset value per share was $20.20 as of September 30, 2024.
Dividend Declarations
The Company's Board of Directors (the "Board") declared a fourth quarter 2024 regular cash dividend of $0.42 per share to stockholders of record as of December 31, 2024, payable on January 15, 2025. The Board also announced a third quarter 2024 supplemental cash dividend of $0.07 per share to stockholders of record as of November 29, 2024, payable on December 16, 2024.
Selected Financial Highlights($ in millions, except per share amounts)
As of and for the three months ended
September 30, 2024
June 30, 2024
September 30, 2023
Investments, at fair value
$
1,591.4
$
1,610.8
$
1,564.8
Total assets
$
1,645.0
$
1,672.4
$
1,624.5
Total net assets
$
748.8
$
752.4
$
730.3
Net asset value per share
$
20.20
$
20.30
$
19.70
Investment income
$
51.6
$
48.9
$
48.2
Net investment income
$
23.5
$
21.7
$
21.7
Net realized gains (losses), net of taxes
$
3.8
$
(4.1
)
$
(0.1
)
Net change in unrealized gains (losses), net of taxes
$
(12.0
)
$
2.8
$
1.0
Net increase (decrease) in net assets resulting from operations
$
15.3
$
20.4
$
22.6
Net investment income per share
$
0.64
$
0.59
$
0.59
Net realized gains (losses) per share, net of taxes
$
0.10
$
(0.11
)
$
(0.00
)
Net change in unrealized gains (losses) per share, net of taxes
$
(0.32
)
$
0.07
$
0.02
Net increase (decrease) in net assets resulting from operations per share
$
0.41
$
0.55
$
0.61
Regular distributions paid per share
$
0.42
$
0.42
$
0.41
Supplemental distributions paid per share
$
0.07
$
0.11
$
0.08
Weighted average yield on income producing securities (at cost)1
11.6
%
12.2
%
12.3
%
Percentage of debt investments at floating rates
97.4
%
96.9
%
98.6
%
Portfolio & Investment Activity
As of September 30, 2024 and December 31, 2023, the Company had investments in 183 and 186 portfolio companies with an aggregate fair value of $1,591.4 and $1,582.1 million, respectively. The portfolio at fair value was comprised of the following asset types:
Portfolio Asset Types:
As of
$ in millions
September 30, 2024
December 31, 2023
Investment Type
Fair Value
Percentage
Fair Value
Percentage
Senior secured first lien
$
401.7
25.2
%
$
429.2
27.0
%
Unitranche first lien2
1,023.7
64.4
973.9
61.5
Unitranche first lien - last out2
5.8
0.4
13.5
0.9
Senior secured second lien
41.8
2.6
58.2
3.7
Unsecured debt
18.7
1.2
4.1
0.3
Equity & other
59.2
3.7
50.1
3.2
LLC/LP equity interests
40.5
2.5
53.1
3.4
Total investments
$
1,591.4
100.0
%
$
1,582.1
