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

Crescent Capital BDC, Inc. (NASDAQ:CCAP) announced a special dividend on Wednesday, May 13th. Investors of record on Sunday, May 31st will be given a dividend of 0.03 per share on Monday, June 15th. The ex-dividend date of this dividend is Friday, May 29th.

Crescent Capital BDC has raised its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 1 years. Crescent Capital BDC has a dividend payout ratio of 97.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research 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 Price Performance

Shares of NASDAQ:CCAP traded down $0.86 during mid-day trading on Thursday, reaching $12.21. The stock had a trading volume of 378,982 shares, compared to its average volume of 198,451. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.24. The company has a market cap of $451.40 million, a P/E ratio of 12.99 and a beta of 0.59. Crescent Capital BDC has a 1 year low of $11.80 and a 1 year high of $16.40. The business’s 50 day moving average price is $13.01 and its 200 day moving average price is $13.80.

Crescent Capital BDC (NASDAQ:CCAP) last posted 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 company had revenue of ($6.84) million for the quarter, compared to the consensus estimate of $39.58 million. Crescent Capital BDC had a return on equity of 9.32% and a net margin of 20.64%. Research analysts expect that Crescent Capital BDC will post 1.63 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on CCAP. Zacks Research upgraded Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 10th. Keefe, Bruyette & Woods decreased their target price on Crescent Capital BDC from $15.50 to $15.00 and set an “outperform” rating on the stock in a research report on Thursday, April 16th. B. Riley Financial began coverage on Crescent Capital BDC in a research report on Monday, March 30th. They issued a “neutral” rating and a $13.50 target price on the stock. Finally, Wells Fargo & Company decreased their target price on Crescent Capital BDC from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $15.50.

Crescent Capital BDC Company Profile

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.