Crescent Capital BDC said on February 21, 2024 that its board of directors declared a regular quarterly dividend of $0.10 per share ($0.40 annualized). Previously, the company paid $0.09 per share.
Shareholders of record as of February 29, 2024 will receive the payment on March 15, 2024.
At the current share price of $16.82 / share, the stock's dividend yield is 2.38%.
Looking back five years and taking a sample every week, the average dividend yield has been 11.17%, the lowest has been 8.27%, and the highest has been 26.41%. The standard deviation of yields is 2.34 (n=144).
The current dividend yield is 3.75 standard deviations below the historical average.
- Read the Ultimate Guide to Dividend Harvesting.
The company has not increased its dividend in the last three years.
What is the Fund Sentiment?
There are 89 funds or institutions reporting positions in Crescent Capital BDC. This is an increase of 8 owner(s) or 9.88% in the last quarter. Average portfolio weight of all funds dedicated to CCAP is 0.29%, an increase of 16.14%. Total shares owned by institutions decreased in the last three months by 12.32% to 12,801K shares. 
The put/call ratio of CCAP is 0.42, indicating a bullish outlook.
Analyst Price Forecast Suggests 9.16% Upside
As of February 24, 2024, the average one-year price target for Crescent Capital BDC is 18.36. The forecasts range from a low of 16.66 to a high of $19.95. The average price target represents an increase of 9.16% from its latest reported closing price of 16.82.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Crescent Capital BDC is 194MM, an increase of 5.41%. The projected annual non-GAAP EPS is 1.86.
What are Other Shareholders Doing?
Texas County & District Retirement System holds 5,002K shares. No change in the last quarter.
Fidelity National Financial holds 4,205K shares. No change in the last quarter.
Fairfax Financial Holdings holds 2,093K shares. No change in the last quarter.
Mariner holds 696K shares. In it's prior filing, the firm reported owning 703K shares, representing a decrease of 1.00%. The firm decreased its portfolio allocation in CCAP by 11.03% over the last quarter.
Ares Management holds 470K shares. No change in the last quarter.
Crescent Capital BDC Background Information
(This description is provided by the company.)
Crescent BDC is a business development company that seeks to maximize the total return of its stockholders in the form of current income and capital appreciation by providing capital solutions to middle market companies with sound business fundamentals and strong growth prospects. Crescent BDC utilizes the extensive experience, origination capabilities and disciplined investment process of Crescent Capital Group LP ('Crescent'). Crescent BDC is externally managed by Crescent Cap Advisors, a subsidiary of Crescent. Crescent BDC has elected to be regulated as a business development company under the Investment Company Act of 1940.
Additional reading:
- Insider Trading Policy (filed herewith).
- Subsidiaries of Crescent Capital BDC Inc. (filed herewith).
- Description of Securities (filed herewith).
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