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 Corporation (Nasdaq: CSWC) announced that Moody’s Investors Service has assigned it a Baa3 long-term issuer rating with a stable outlook. This rating reflects the company's robust capitalization, strong recurring earnings, and a first-lien focused investment portfolio. Moody’s expects the company will maintain sufficient liquidity and adhere to its regulatory leverage targets. CEO Bowen Diehl expressed pride in this validation of their investment strategy and credit management.
As of December 31, 2022, Capital Southwest maintained approximately $1.2 billion in investments at fair value, indicating its strong position in the middle market financing sector.
Capital Southwest Corporation (CSWC), a business development company, announced the federal income tax treatment of its 2022 dividends, totaling $2.18 per share, entirely comprised of ordinary income. This includes net short-term capital gains. The dividends, with a record date of March 15, 2022, and a payment date of March 31, 2022, show that 89.74% are interest-related and short-term capital gains, exempting non-U.S. residents from U.S. withholding tax. The tax characteristics of the dividends can be found on their website for further transparency.
Capital Southwest Corporation (CSWC) reported a Pre-Tax Net Investment Income of $0.60 per share for the quarter ended December 31, 2022. The total investment portfolio reached $1.2 billion, with a credit portfolio of $990.3 million, primarily in 1st Lien Senior Secured Debt. The company generated $32.8 million in total investment income, an increase from $26.8 million in the previous quarter. CSWC's total dividends for the quarter amounted to $0.57 per share. Newly committed investments totaled $160.5 million, while net realized and unrealized depreciation reached $16.4 million.
The company’s stockholders can anticipate a regular dividend of $0.53 per share and a supplemental dividend of $0.05 per share for the next quarter.
Capital Southwest Corporation (Nasdaq: CSWC) will release its third quarter 2023 results on January 30, 2023, after market close. A live webcast is scheduled for January 31, 2023, at 11:00 a.m. ET, where investors can participate. The company focuses on providing financial solutions for middle market businesses, with approximately $1.1 billion in investments at fair value as of September 30, 2022. Interested participants can register online for the call and access the webcast via the company's website.
Capital Southwest Corporation (CSWC) reported raising approximately $172 million in net proceeds during Q4 2022. Gross equity proceeds totaled $104.3 million, with a weighted average price of $17.99, surpassing the prevailing NAV per share. The company secured a $50 million commitment from the Small Business Administration, raising total SBA leverage to $130 million. Additionally, it increased its senior secured revolving credit facility by $20 million, now totaling $400 million in commitments.
Capital Southwest Corporation (NASDAQ: CSWC) has successfully closed a public offering of 2,534,436 shares at $18.15 per share, receiving approximately $44.0 million in net proceeds. This total includes the full exercise of the underwriters' option for an additional 330,579 shares. The funds will be used to repay outstanding debt, invest according to its strategies, and cover general corporate expenses. The offering was underwritten by major firms including Raymond James and Goldman Sachs.
Capital Southwest Corporation (Nasdaq: CSWC) announced a $20 million increase in its senior secured revolving credit facility, raising total commitments from $380 million to $400 million. This increase involved one existing lender and one new lender, expanding the bank syndicate to 11 participants. As of September 30, 2022, Capital Southwest holds approximately $1.1 billion in investments at fair value, focusing on flexible financing solutions for middle market businesses. The company remains committed to supporting growth in its portfolio while navigating various market risks.
Capital Southwest Corporation (NASDAQ: CSWC) has priced an underwritten public offering of 2,203,857 shares at $18.15 each, with a potential additional 330,579 shares for underwriters. Expected net proceeds are approximately $38.2 million, aimed at repaying debt and making new investments. The offering is set to close on November 17, 2022, subject to customary conditions. Joint book-runners include Raymond James and UBS, among others. Investors are advised to review relevant risk factors in the company's prospectus.
Capital Southwest Corporation (NASDAQ: CSWC) announced a public offering of approximately $46.0 million in common stock, with underwriters granted a 30-day option for additional shares. The net proceeds will be used to repay debt, invest according to its strategies, and cover general corporate expenses. The offering is contingent on market conditions, and the effective shelf registration statement has been filed with the SEC. Notable joint book-runners include Raymond James, UBS, Wells Fargo, and Goldman Sachs.
Capital Southwest Corporation (CSWC) reported a Pre-Tax Net Investment Income of $0.54 per share for the quarter ended September 30, 2022. Total investment income rose to $26.8 million, up from $22.5 million in the previous quarter. The total investment portfolio reached $1.1 billion, with a credit portfolio of $903.5 million, primarily in 1st Lien Senior Secured Debt. Dividends increased to $0.52 per share from $0.50, alongside a declared supplemental dividend of $0.05. The company's Net Asset Value per share was $16.53.