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In a recent 8-K filing with the Securities and Exchange Commission, Crescent Capital BDC, Inc. (market capitalization: $577 million) announced the results of its 2025 Annual Meeting of Stockholders held on Friday, May 16, 2025. According to InvestingPro data, the company’s stock has declined about 18% year-to-date, though it maintains a modest P/E ratio of 11.6x. During the meeting, shareholders voted on two key proposals, leading to the election of directors and the ratification of the company’s independent auditors.
Proposal 1 concerned the election of Class I directors. The company’s stockholders elected Kathleen S. Briscoe and George G. Strong, Jr. as Class I directors, both to serve a three-year term expiring at the 2028 annual meeting or until their successors are duly elected and qualified. Briscoe was elected with 12,122,514 votes for, 196,442 against, and 49,531 abstentions. Strong received 11,671,319 votes for, 641,133 against, and 56,035 abstentions.
Proposal 2 was the ratification of Ernst & Young LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2025. This proposal was approved with 19,900,980 votes for, 183,352 against, and 84,000 abstentions.
The meeting outcomes are a clear indicator of shareholder confidence in the board’s leadership and the company’s accounting practices. The elected directors are tasked with guiding Crescent Capital BDC, Inc. through its strategic plans and overseeing corporate governance. The company has demonstrated commitment to shareholder returns, maintaining a significant dividend yield of 12.6% and having raised its dividend for five consecutive years, according to InvestingPro analysis.
The 8-K filing also listed the company’s business and mailing addresses, confirming the location of its principal executive offices in Los Angeles, California. It provided details such as the state of incorporation, the IRS employer identification number, and the company’s contact information.
This information is based on the official SEC filing by Crescent Capital BDC, Inc. and provides shareholders and the public with transparent insights into the company’s governance and operational oversight. InvestingPro subscribers have access to additional insights, including 8 more ProTips and a comprehensive analysis of the company’s financial health, which is currently rated as FAIR based on multiple financial metrics.
In other recent news, Crescent Capital BDC Inc (NASDAQ:CCAP). reported its first-quarter 2025 earnings, revealing an earnings per share (EPS) of $0.45, which did not meet the analyst forecast of $0.5277. The company’s revenue also fell short of expectations, coming in at $42.13 million compared to the projected $45.72 million. The decline in net investment income was attributed to lower base rates and a decrease in non-recurring income. In response, Crescent Capital declared a second-quarter 2025 dividend of $0.42 per share. Additionally, Raymond (NSE:RYMD) James adjusted its price target for Crescent BDC shares from $20.00 to $17.00, maintaining an Outperform rating despite the earnings miss. The firm cited the early wind down of the Logan JV fund as a contributing factor to the earnings shortfall. Despite these challenges, Crescent Capital plans to focus on capital preservation and NAV stability, with potential tailwinds anticipated from the repricing of its SPV facility. Raymond James continues to express confidence in Crescent BDC’s potential, highlighting its attractive risk/reward profile.
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