Core Viewpoint - Crescent Capital BDC, Inc. reported a decrease in net investment income and net asset value for the quarter ended March 31, 2025, indicating potential challenges in its financial performance compared to previous periods [1][3][6]. Financial Performance - Net investment income per share was $0.45 for Q1 2025, down from $0.55 in Q4 2024 and $0.63 in Q1 2024 [3][6]. - Net income per share was reported at $0.11 for Q1 2025, a decrease from $0.27 in Q4 2024 and $0.76 in Q1 2024 [3][6]. - Total investment income decreased to $42.1 million in Q1 2025 from $46.4 million in Q4 2024 [6][7]. - The net asset value (NAV) per share was $19.62 as of March 31, 2025, down from $19.98 at the end of 2024 [1][3]. Dividend Declarations - The Board declared a regular cash dividend of $0.42 per share for Q2 2025, payable on July 15, 2025 [2]. - A special dividend of $0.05 per share will be paid on June 13, 2025, as part of three previously announced special dividends [2]. Investment Activity - As of March 31, 2025, the company had investments in 191 portfolio companies with a fair value of $1,620.7 million, an increase from $1,598.9 million as of December 31, 2024 [4][5]. - The company invested $104.7 million across 10 new portfolio companies during Q1 2025, compared to $127.1 million across 14 new companies in Q4 2024 [5]. Portfolio Composition - The portfolio's fair value included $400.3 million in senior secured first lien investments (24.8% of total) and $1,048.9 million in unitranche first lien investments (64.7% of total) as of March 31, 2025 [4][5]. Liquidity and Capital Resources - As of March 31, 2025, the company had $30.5 million in cash and cash equivalents and $310.0 million of undrawn capacity on its credit facilities [8]. - The debt to equity ratio was reported at 1.25x as of March 31, 2025 [8].
Crescent Capital BDC, Inc. Reports First Quarter 2025 Earnings Results; Declares a Second Quarter Base Dividend of $0.42 Per Share