Crescent Capital BDC said on May 10, 2023 that its board of directors declared a regular quarterly dividend of $0.41 per share ($1.64 annualized). Previously, the company paid $0.41 per share.
Shares must be purchased before the ex-div date of June 29, 2023 to qualify for the dividend. Shareholders of record as of June 30, 2023 will receive the payment on July 17, 2023.
At the current share price of $13.59 / share, the stock's dividend yield is 12.07%.
Looking back five years and taking a sample every week, the average dividend yield has been 11.50%, the lowest has been 8.27%, and the highest has been 26.41%. The standard deviation of yields is 2.59 (n=109).
The current dividend yield is 0.22 standard deviations above the historical average.
The company has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 77 funds or institutions reporting positions in Crescent Capital BDC. This is an increase of 12 owner(s) or 18.46% in the last quarter. Average portfolio weight of all funds dedicated to CCAP is 0.25%, a decrease of 23.31%. Total shares owned by institutions increased in the last three months by 4.28% to 17,476K shares. 
The put/call ratio of CCAP is 0.70, indicating a bullish outlook.
Analyst Price Forecast Suggests 31.35% Upside
As of May 11, 2023, the average one-year price target for Crescent Capital BDC is 17.85. The forecasts range from a low of 16.16 to a high of $18.90. The average price target represents an increase of 31.35% from its latest reported closing price of 13.59.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Crescent Capital BDC is 162MM, an increase of 39.01%. 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.
Sun Life Financial holds 1,077K shares. No change in the last quarter.
First Eagle Investment Management holds 977K shares.
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.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
