Crescent Capital Bdc, Inc. ( (CCAP) ) has released its Q4 earnings. Here is a breakdown of the information Crescent Capital Bdc, Inc. presented to its investors.
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Crescent Capital BDC, Inc. is a business development company focused on providing capital solutions to middle market companies, aiming to maximize stockholder returns through income and capital appreciation. In its fourth quarter and annual earnings report for 2024, Crescent Capital BDC revealed a net investment income of $2.40 per share for the year, with a net income of $1.99 per share. The company’s net asset value per share stood at $19.98 at the end of December 2024. Additionally, Crescent Capital announced a first quarter 2025 regular cash dividend of $0.42 per share and special cash dividends totaling $0.15 per share to be distributed over three quarters.
The financial highlights for Crescent Capital BDC in the fourth quarter of 2024 included an investment income of $46.4 million, a decrease from the previous quarter. The net investment income per share was $0.55, and the net income per share was $0.27. Despite a decrease in total net assets to $740.6 million from $748.8 million in the previous quarter, the company invested $127.1 million across new and existing portfolio companies, showing a robust investment activity.
For the entire year, Crescent Capital BDC reported an increase in investment income to $197.4 million from the previous year’s $184.1 million, driven by growth in the income-producing portfolio. However, total expenses rose to $108.4 million from $101.6 million due to higher debt financing costs. The company’s debt to equity ratio was 1.19x, with a weighted average cost of debt at 6.38%.
Looking ahead, Crescent Capital BDC remains committed to leveraging its investment strategies and origination capabilities to achieve sustained growth and returns for its shareholders. The management continues to focus on identifying suitable investment opportunities and ensuring effective portfolio management despite potential economic and market challenges.
