Welcome to our dedicated page for Capital Southwest news (Ticker: CSWC), a resource for investors and traders seeking the latest updates and insights on Capital Southwest stock.
Capital Southwest Corporation (CSWC) is an internally managed business development company listed on Nasdaq and based in Dallas, Texas. The company focuses on providing flexible financing solutions to support the acquisition and growth of middle market businesses, with $5 million to $50 million investments across the capital structure, including first lien, second lien and non-control equity co-investments. Its news flow reflects this middle market lending focus and its role as a public investment company.
On this page, readers can follow CSWC news related to quarterly and annual financial results, portfolio activity and capital structure developments. Recent releases have covered first and second fiscal quarter results, including details on total investment income, pre-tax net investment income, portfolio composition between credit and equity investments, and non-accrual levels. These updates provide insight into how Capital Southwest’s credit portfolio, largely composed of first lien senior secured debt, and its equity co-investments are performing over time.
Capital Southwest also issues frequent announcements about its dividend policy, including monthly regular dividends and quarterly supplemental dividends, as well as information on its dividend reinvestment plan for registered stockholders. Investors can track Board of Directors decisions on dividend amounts per share and payment schedules, along with commentary on taxable income available for distribution.
Other notable news items include capital markets transactions, such as the pricing and issuance of 5.950% Notes due 2030, updates on the Corporate Credit Facility and SPV Credit Facility, and the use of the Equity ATM Program to raise common equity. Governance and corporate developments, including annual meeting voting results, executive promotions and affirmed investment grade ratings from Fitch Ratings, also appear in the company’s news. This page is a central resource for monitoring ongoing developments that affect CSWC’s operations, portfolio and capital structure.
Capital Southwest (CSWC) has announced a significant expansion of its Corporate Credit Facility. The company has increased total commitments from $460 million to $485 million, representing a $25 million increase under the existing accordion feature. This expansion was facilitated by the addition of one new lender, bringing the total number of participants in the bank syndicate to 11. The Corporate Credit Facility's accordion feature allows for potential future growth, with maximum commitments of up to $750 million.
This increase in the credit facility enhances Capital Southwest's capacity to provide flexible financing solutions for middle market businesses, supporting their acquisition and growth strategies. The expansion of the credit facility demonstrates the company's continued ability to attract lender support and potentially signals confidence in its business model and growth prospects.
Capital Southwest (CSWC) reported strong financial results for Q1 FY2025 ended June 30, 2024. Pre-tax net investment income was $31.3 million or $0.69 per share. The company's total investment portfolio reached $1.5 billion, with a credit portfolio of $1.3 billion (98% 1st Lien Senior Secured Debt). CSWC increased its regular dividend to $0.58 per share and declared a supplemental dividend of $0.06 per share for Q2 FY2025. The company's NAV per share was $16.60, slightly down from $16.77 in the previous quarter. CSWC originated $108.1 million in new commitments during the quarter and received $77.2 million in prepayments. The company's balance sheet liquidity reached an all-time high of $485 million.
Capital Southwest (Nasdaq: CSWC) has announced preliminary estimates for its first quarter 2025 fiscal year (ended June 30, 2024) operating results. The company expects pre-tax net investment income of $0.68 to $0.69 per share and net investment income of $0.62 to $0.63 per share. The estimated net asset value per share is between $16.55 and $16.65, with regulatory leverage at 0.73x to 0.77x debt to equity.
Capital Southwest will release finalized Q1 2025 results on August 5, 2024, after market close. A live webcast is scheduled for August 6, 2024, at 11:00 a.m. Eastern time. Investors can participate via webcast or register for the live call to ask questions.
Capital Southwest (CSWC) reported strong financial results for the quarter and fiscal year ending March 31, 2024. For the fourth quarter, CSWC achieved a pre-tax net investment income of $29.8 million ($0.68 per share). The company declared total dividends of $0.63 per share for the quarter ending June 30, 2024. The total investment portfolio grew to $1.5 billion, with new credit investments of $154.6 million and a weighted average yield of 13.3%. However, the company recorded $15.9 million in net realized and unrealized depreciation on investments. For the fiscal year, CSWC's total investment income increased to $178.1 million, and the pre-tax net investment income grew by 18% to $2.72 per share.
During the year, CSWC's credit portfolio expanded by 30%, and the company improved its operating leverage. The net asset value per share remained stable at $16.77. The company also diversified its funding sources by securing a new $150 million SPV credit facility. Despite these positive performances, the company faced increased operating expenses and recorded significant net realized and unrealized losses on investments.
Capital Southwest announced the promotion of Josh Weinstein to Senior Managing Director and Chief Investment Officer and Chris Rehberger to Executive Vice President and Treasurer. The promotions are aimed at strengthening the executive team and driving growth for the company. Josh Weinstein has been instrumental in expanding the company's market presence and generating strong returns for shareholders. Chris Rehberger has played a key role in building a robust balance sheet capitalization strategy and managing financial operations.
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