Crescent Capital Cuts Management Fee to 1%, Declares $0.34 Regular and $0.09 Special Dividends
First quarter net investment income was $0.42 with net income of negative $0.42 per share and NAV of $18.27. Effective April 1, the board cut the base management fee to 1.00% and incentive fee to 15.0%, and declared a $0.34 regular dividend plus $0.09 in special dividends.
1. Earnings Results
Crescent Capital BDC reported net investment income of $0.42 per share for the quarter ended March 31, 2026, while net income was a loss of $0.42 per share. Net asset value per share declined to $18.27, down from $19.10 at year-end 2025.
2. Fee Structure Changes
Effective April 1, Crescent Capital reduced its base management fee from 1.25% to 1.00% and lowered its incentive fee from 17.5% to 15.0%, aiming to better align interests with shareholders and support earnings stability.
3. Dividend Declarations
The board declared a second quarter regular cash dividend of $0.34 per share payable July 15, 2026, and approved $0.09 per share in special dividends, to be distributed in three equal quarterly installments of $0.03 per share.
4. Portfolio and Asset Highlights
As of March 31, the firm held $1.56 billion in fair value investments across 192 portfolio companies, with a weighted average yield on income producing securities of 9.8% and 99.2% of debt investments at floating rates.