Carlyle Credit Income Fund Announces First Quarter Financial Results and Declares Monthly Common and Preferred Dividends

Rhea-AI Summary

Carlyle Credit Income Fund (NYSE: CCIF) reported Q1 results for the period ending December 31, 2025, and declared monthly common and preferred dividends. The Fund cut its monthly common dividend to $0.06 per share through May 2026, saying this amount is fully covered by core net investment income.

Key metrics: net asset value per common share $5.17, total fair value of investments $181.8 million, aggregate portfolio weighted average GAAP yield 13.56%, and funded new CLO investments of $13.1 million in the quarter.

Positive

• Monthly common dividend set at $0.06 through May 2026, covered by core NII
• Refinanced $52 million 8.75% preferred with lower-cost preferred at 7.33%
• Issued $30 million of 7.375% Series D term preferred shares due 2028
• Funded $13.1 million in new CLO investments with GAAP yield 13.55%

Negative

• Reduced monthly common dividend (implies payout contraction from prior level)
• Net asset value per common share of $5.17 indicates modest NAV base
• Total fair value of investments of $181.8 million may reflect limited asset scale

Key Figures

Monthly common dividend: $0.06 per share Annualized dividend yield: 20.00% New CLO investments funded: $13.1 million +5 more

8 metrics

Monthly common dividend $0.06 per share Declared for March–May 2026; reduced in light of market conditions

Annualized dividend yield 20.00% Based on share price as of February 23, 2026

New CLO investments funded $13.1 million First quarter ended December 31, 2025

GAAP yield on new CLOs 13.55% Weighted average GAAP yield on new CLO investments

Portfolio GAAP yield 13.56% Aggregate portfolio weighted average GAAP yield as of December 31, 2025

Refinanced preferred amount $52 million 8.75% Series A Term Preferred refinanced into 7.33% coupon shares

Core net investment income $0.32 per common share First quarter of 2026

Net asset value per share $5.17 As of December 31, 2025

Market Reality Check

Price: $3.40 Vol: Volume 179,590 is at 0.68...

low vol

$3.40 Last Close

Volume Volume 179,590 is at 0.68x the 20-day average of 265,861, indicating subdued trading activity. low

Technical Shares at $3.40 trade below the 200-day MA $5.45, 56.96% below the 52-week high and 5.59% above the 52-week low.

Peers on Argus

CCIF fell 5.56% while peers showed mixed, smaller moves: some modest gains (e.g....

CCIF fell 5.56% while peers showed mixed, smaller moves: some modest gains (e.g., OFS +0.5%, SBI +0.38%) and some mild declines (e.g., PDCC -2.22%). This points to a largely stock-specific reaction.

Previous Dividends,earnings Reports

5 past events · Latest: Nov 18 (Positive)

Same Type Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Nov 18	Earnings & dividends	Positive	+1.5%	Q4 and full-year 2025 results with high $0.1050 monthly dividend and strong yields.
Aug 19	Earnings & dividends	Positive	-1.1%	Q3 2025 results maintaining $0.1050 dividend and reporting robust CLO yields and NAV.
May 20	Earnings & dividends	Positive	-0.5%	Q2 2025 results with strong CLO deployment, high yields, and steady $0.1050 dividend.
Feb 26	Earnings & dividends	Positive	-0.4%	Q1 2025 update highlighting strong CLO performance and maintained $0.1050 dividend.
Nov 20	Earnings & dividends	Positive	-0.9%	Q4 and full-year 2024 results with elevated core NII and continued $0.1050 dividend.

Pattern Detected

Past dividends/earnings releases were generally positive but often met with small negative price reactions, suggesting a pattern of mild selloffs on strong reports.

Recent Company History

Over the past year, CCIF’s dividends/earnings updates have emphasized high monthly payouts of $0.1050 per share, strong CLO yields, and NAVs in the $6.13–$7.64 range with portfolio fair values near $174–$200M. Today’s report marks a shift: the common dividend is reduced to $0.06, NAV stands at $5.17, and investment fair value is $181.8M. This announcement continues the theme of CLO-focused deployment but against a backdrop of lower NAV and payout reset versus prior periods.

Historical Comparison

-0.3% avg move · In the past year, CCIF’s 5 dividends/earnings releases led to an average move of -0.27%. Today’s -5....

dividends,earnings

-0.3%

Average Historical Move dividends,earnings

In the past year, CCIF’s 5 dividends/earnings releases led to an average move of -0.27%. Today’s -5.56% reaction is materially more negative than prior similar announcements.

Dividends/earnings updates have consistently paired high CLO yields with a $0.1050 monthly dividend. The current release introduces a lower $0.06 payout and a reduced NAV of $5.17, marking a reset from the prior higher-dividend, higher-NAV framework.

Market Pulse Summary

This announcement details CCIF’s Q1 2026 results, emphasizing a reset of the monthly common dividend...

Analysis

This announcement details CCIF’s Q1 2026 results, emphasizing a reset of the monthly common dividend to $0.06, which still corresponds to a 20.00% annualized yield on the referenced price and is covered by core NII of $0.32. The fund continues to deploy into CLOs at GAAP yields above 13%, while NAV per share stands at $5.17 and investments total $181.8M. Investors may watch future NAV trends, dividend coverage, and CLO yield resilience as key indicators.

Key Terms

CLO, GAAP, Non-GAAP, convertible preferred shares, +1 more

5 terms

CLO financial

"Amidst a more challenging market environment for CLO equity, we completed three resets"

A CLO (Collateralized Loan Obligation) is a financial vehicle that pools many corporate loans and sells slices of that pool to investors, with each slice carrying a different mix of risk and return—think of it as a loan-based fund cut into safe and risky pieces. It matters to investors because CLOs can offer higher yields than traditional bonds but expose buyers to borrowers’ defaults and changes in interest rates, so understanding which slice you own is key to gauging potential reward and loss.

GAAP financial

"weighted average GAAP yield of 13.55% as of December 31, 2025"

GAAP, or Generally Accepted Accounting Principles, are a set of standardized rules and guidelines that companies follow when preparing their financial statements. They ensure consistency, transparency, and comparability across different companies, making it easier for investors to understand and compare financial information accurately. This helps investors make informed decisions based on trustworthy and uniform financial reports.

Non-GAAP financial

"calculated and presented on a basis other than in accordance with GAAP (“non-GAAP”)"

Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.

convertible preferred shares financial

"Completed a private placement of 7.25% Series E Convertible Preferred Shares for total net proceeds"

Convertible preferred shares are a type of stock that pays priority dividends and has a higher claim on assets than common shares, but can be exchanged later for a set number of common shares. For investors, they offer a safety-and-upside mix: steady income and protection like a senior ticket, plus the option to convert into common stock if the company grows — a decision that affects potential returns and how much existing owners’ stakes may be diluted.

net asset value financial

"Net asset value per common share was $5.17 as of December 31, 2025"

Net asset value is the total value of an investment fund's assets minus any liabilities, divided by the number of shares or units outstanding. It represents the per-share worth of the fund, similar to how the value of a house is determined by its total worth after debts are subtracted. Investors use it to gauge the true value of their holdings and to compare different investment options.

AI-generated analysis. Not financial advice.

NEW YORK, Feb. 25, 2026 (GLOBE NEWSWIRE) -- Carlyle Credit Income Fund (“we,” “us,” “our,” “CCIF” or the “Fund”) (NYSE: CCIF) today announced its financial results for its first quarter ending December 31, 2025. The full detailed presentation of the Fund’s first quarter 2026 financial results can be viewed on the Fund’s website (https://www.carlylecreditincomefund.com/investor-dashboard).

“In the first quarter, we continued our focus on selective capital deployment and long-term value creation,” said Nishil Mehta, CCIF’s Principal Executive Officer and President. “Amidst a more challenging market environment for CLO equity, we completed three resets in the underlying portfolio, extending reinvestment runway and enhancing future cash flow potential. In light of current market conditions, we are reducing our monthly dividend to $0.06 per share, which remains fully covered by core net investment income. We will continue to emphasize disciplined underwriting, working with strong CLO managers, and maintaining prudent capital management as we look ahead.”

Over the past quarter, the Fund has successfully:

• Declared a monthly dividend of $0.06 cents through May 2026, equating to a 20.00% annualized dividend based on share price as of February 23, 2026.
• Funded $13.1 million in new CLO investments with a weighted average GAAP yield of 13.55% as of December 31, 2025. The aggregate portfolio weighted average GAAP yield was 13.56% as of December 31, 2025.
• Refinanced $52 million 8.75% Series A Term Preferred Shares with lower cost preferred shares with a weighted average coupon of 7.33%.
  • Issued $30 million of 7.375% Series D Term Preferred Shares due 2028 (NYSE: CCID) on October 30, 2025.
  • Completed a private placement of 7.25% Series E Convertible Preferred Shares for total net proceeds of approximately $16.3 million on October 30, 2025.
  • Redeemed all $52 million 8.75% Series A Term Preferred Shares (NYSE: CCIA) on November 3, 2025.
    
    

Net investment income was $0.09 per common share, adjusted net investment income was $0.17 per common share, and core net investment income was $0.32 per common share for the first quarter of 2026. Adjusted Net Investment Income Per Common Share and Core Net Investment Income Per Common Share are Non-GAAP financial measures described in further detail below. Net asset value per common share was $5.17 as of December 31, 2025. The total fair value of investments was $181.8 million as of December 31, 2025.

Dividends

CCIF is declaring a monthly dividend on shares of the Fund’s common stock of $0.06 per share for March, April, and May 2026.

Security	Amount per Share	Record Dates	Payable Dates
Common Stock	$0.06	March 19, 2026	March 31, 2026
		April 20, 2026	April 30, 2026
		May 18, 2026	May 29, 2026

CCIF is also pleased to announce the declaration of dividends on shares of the Fund’s 7.375% Series D Term Preferred Shares of $0.1536 per share for March, April, and May 2026.

Security	Amount per Share	Record Dates	Payable Dates
Series D Preferred Shares	$0.1536	March 19, 2026	March 31, 2026
		April 20, 2026	April 30, 2026
		May 18, 2026	May 29, 2026

Conference Call

The Fund will host a conference call at 10:00 a.m. EDT on Thursday, February 26, 2026, to discuss its first quarter financial results. Please register for the conference call here. The conference call information will also be available via a link on Carlyle Credit Income Fund’s website and the recording will be available on our website soon after the call’s completion.

Non-GAAP Financial Measures 

On a supplemental basis, we are disclosing Adjusted Net Investment Income Per Common Share and Core Net Investment Income Per Common Share, which are calculated and presented on a basis other than in accordance with GAAP (“non-GAAP”). We use these non-GAAP financial measures internally to analyze and evaluate financial results and performance, and we believe these non-GAAP financial measures are useful to investors gauging the quality of the Fund's financial performance, identifying trends in its results and providing meaningful period-to-period comparisons. The presentation of this non-GAAP measure is not intended to be a substitute for financial results prepared in accordance with GAAP and should not be considered in isolation.

About Carlyle Credit Income Fund

Carlyle Credit Income Fund (NYSE: CCIF) is an externally managed closed-end fund focused on investing in primarily equity and junior debt tranches of collateralized loan obligations (“CLOs”). The CLOs are collateralized by a portfolio consisting primarily of U.S. senior secured loans with a large number of distinct underlying borrowers across various industry sectors. CCIF is externally managed by Carlyle Global Credit Investment Management L.L.C. (“CGCIM”), an SEC-registered investment adviser and wholly owned subsidiary of Carlyle. CCIF draws upon the significant scale and resources of Carlyle as one of the world's largest CLO managers.

Web: www.carlylecreditincomefund.com

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This press release may contain forward-looking statements that involve substantial risks and uncertainties. You can identify these statements by the use of forward-looking terminology such as “anticipates,” “believes,” “expects,” “intends,” “will,” “should,” “may,” “plans,” “continue,” “believes,” “seeks,” “estimates,” “would,” “could,” “targets,” “projects,” “outlook,” “potential,” “predicts” and variations of these words and similar expressions to identify forward-looking statements, although not all forward-looking statements include these words. You should read statements that contain these words carefully because they discuss our plans, strategies, prospects and expectations concerning our business, operating results, financial condition and other similar matters. We believe that it is important to communicate our future expectations to our investors. There may be events in the future, however, that we are not able to predict accurately or control. You should not place undue reliance on these forward-looking statements, which speak only as of the date on which we make it. Factors or events that could cause our actual results to differ, possibly materially from our expectations, include, but are not limited to, the risks, uncertainties and other factors we identify in the sections entitled “Risk Factors” and “Cautionary Statement Regarding Forward-Looking Statements” in filings we make with the Securities and Exchange Commission, and it is not possible for us to predict or identify all of them. We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Contacts:

Investors:	Media:
Joseph Castilla	Kristen Ashton
+1 (866) 277-8243 investorrelations@carlylecreditincomefund.com	+1 (212) 813-4763 kristen.ashton@carlyle.com

FAQ

Why did CCIF cut its monthly common dividend to $0.06 per share in Feb 2026?

The Fund reduced the monthly dividend to $0.06 to reflect current market conditions while retaining coverage. According to the company, core net investment income fully covers the reduced dividend and supports disciplined capital management through May 2026.

What is CCIF's net asset value per common share as of Dec 31, 2025 (CCIF)?

Net asset value per common share was $5.17 as of December 31, 2025. According to the company, this NAV reflects the quarter-end portfolio valuation and provides a snapshot of per-share net assets.

How much new CLO investment did CCIF fund in Q1 2026 and what yield did it earn?

CCIF funded $13.1 million in new CLO investments with a weighted average GAAP yield of 13.55%. According to the company, these investments aim to extend reinvestment runway and enhance future cash flow potential.

What preferred share actions did CCIF complete in late 2025 affecting capital structure?

The Fund refinanced and redeemed prior preferred and issued new series to lower interest costs. According to the company, it refinanced $52 million 8.75% preferred into lower-cost preferred (7.33%), issued $30 million Series D, and completed a $16.3 million Series E private placement.

Is CCIF's declared common dividend covered by earnings for the quarter ending Dec 31, 2025?

Yes, the declared $0.06 monthly common dividend is reported as fully covered by the Fund's core net investment income. According to the company, core NII per share exceeded the dividend amount for the quarter.

When will CCIF discuss its first quarter 2026 results with investors (CCIF)?

CCIF will host a conference call at 10:00 a.m. EDT on February 26, 2026 to discuss first quarter results. According to the company, registration and the conference link are available on the Fund's website and a recording will be posted after the call.