Crescent Capital BDC, Inc. (NASDAQ:CCAP) Plans Dividend Increase – $0.42 Per Share

Crescent Capital BDC, Inc. (NASDAQ:CCAP) declared a quarterly dividend on Saturday, December 28th,Wall Street Journal reports. Investors of record on Tuesday, December 31st will be paid a dividend of 0.42 per share on Wednesday, January 15th. This represents a $1.68 annualized dividend and a dividend yield of 8.51%. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Crescent Capital BDC’s previous quarterly dividend of $0.07.

Crescent Capital BDC has a payout ratio of 81.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Crescent Capital BDC to earn $2.07 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 81.2%.

Crescent Capital BDC Stock Performance

CCAP opened at $19.75 on Friday. The firm has a market capitalization of $731.97 million, a PE ratio of 7.75 and a beta of 0.82. The firm has a 50 day moving average of $19.04 and a two-hundred day moving average of $18.73. Crescent Capital BDC has a 12-month low of $15.91 and a 12-month high of $20.03. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.14.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CCAP shares. Keefe, Bruyette & Woods boosted their price target on shares of Crescent Capital BDC from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. LADENBURG THALM/SH SH began coverage on Crescent Capital BDC in a report on Monday, September 30th. They issued a “buy” rating and a $20.00 target price for the company. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Crescent Capital BDC has a consensus rating of “Moderate Buy” and a consensus price target of $19.17.

Crescent Capital BDC Company Profile

Crescent Capital BDC, Inc is as a business development company private equity / buyouts and loan fund. It specializes in directly investing. It specializes in middle market. The fund seeks to invest in United States.