Crescent Capital BDC, Inc. (CCAP) to Issue Quarterly Dividend of $0.42 on January 15th

Crescent Capital BDC, Inc. (NASDAQ:CCAP) declared a quarterly dividend on Saturday, December 28th,Wall Street Journal reports. Shareholders of record on Tuesday, December 31st will be given 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 is Tuesday, December 31st. This is a positive change from Crescent Capital BDC’s previous quarterly dividend of $0.07.

Crescent Capital BDC has a dividend payout ratio of 81.6% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. 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 Price Performance

CCAP stock opened at $19.75 on Friday. The firm has a market cap of $731.97 million, a P/E ratio of 7.75 and a beta of 0.82. The firm’s fifty day moving average is $19.04 and its 200 day moving average is $18.73. Crescent Capital BDC has a 52 week low of $15.91 and a 52 week high of $20.03. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.26 and a current ratio of 1.26.

Analyst Ratings Changes

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

About Crescent Capital BDC

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.