Capital Southwest FY NII rises, expects more supplemental dividends

Capital Southwest’s (NASDAQ:CSWC) net investment income rose in the fiscal year ended March 31 and topped analysts’ expectations.
The business development company’s board has also declared a supplemental dividend of $0.06 per share for the June 30, 2024 quarter, resulting in total dividends of $0.63 per share.
“While future dividend declarations are at the discretion of our Board of Directors, it is our intent to continue to distribute quarterly supplemental dividends for the foreseeable future while base rates remain materially above long-term historical averages and we have a meaningful UTI balance,” said CEO Bowen Diehl.
FY net investment income of $2.70 per share rose from $2.29 last year and beat analysts’ expectation by $0.23.
The company’s net asset value at March 31, 2024 was $16.77, as compared to $16.37 at March 31, 2023.
For the quarter ended March 31, 2024, Capital Southwest reported total investment income of $46.4 million, compared to $48.6 million in the prior quarter.