Carlyle Credit Income Fund's Impressive Financial Outcomes
NEW YORK -- Carlyle Credit Income Fund (CCIF) (NYSE: CCIF) has recently released its financial outcomes for the fourth quarter and whole year, demonstrating a solid performance. The latest results reflect the Fund's ongoing commitment to maximizing returns for its investors through a robust strategic plan initiated when Carlyle began managing CCIF in mid-2023.
Lauren Basmadjian, the Chief Executive Officer of CCIF, expressed satisfaction with the financial data presented for the fourth quarter and the fiscal year. She highlighted how the dividend rate has significantly benefitted shareholders, indicating a pivotal increase from 7.8% to 15.2%. This change showcases a remarkable growth of 7.4% and exemplifies the Fund’s dedication to generating distinctive opportunities for stakeholders.
Financial Highlights from the Fourth Quarter
Over the past quarter, CCIF has made impressive strides, achieving various financial milestones that are central to its continued success:
- CCIF has preserved a consistent monthly dividend of $0.105 per share, valid through February of the following year, equating to an annualized yield of 15.16% based on share prices as of mid-November and a more substantial 16.64% when referencing the Fund's NAV.
- The Fund successfully invested $39.6 million into new CLO opportunities, boasting a weighted average GAAP yield of 16.5%. Additionally, the portfolio’s weighted average GAAP yield was marked at 18.6% as of the end of September.
- CCIF wrapped up a private placement of 5-year convertible preferred shares at a 7.125% interest rate, yielding net proceeds of $10.7 million.
- The registered direct placement of common shares at a premium to NAV resulted in net proceeds of $11.5 million.
- Through the ATM offering program, the Fund sold 850,000 common shares, achieving net proceeds of $6.8 million.
Net investment income per common share stood at $0.30, while core net investment income reached $0.45 during the fourth quarter of 2024. As of the fiscal quarter's conclusion, the net asset value per common share was $7.64, with total fair value investments summing up to $173.5 million.
Dividends Overview
The Carlyle Credit Income Fund is excited to maintain the monthly dividend at $0.105 per common share throughout December of this year and January and February of the forthcoming year, thus ensuring consistent returns for its investors.
Preferred Dividends Announced
Additionally, CCIF is pleased to announce dividends on its 8.75% Series A Term Preferred Shares, specifying a payment of $0.1823 per share valid for December 2024, as well as January and February of the new year.
Conference Call Announcement
In conjunction with its financial results, Carlyle Credit Income Fund will host a conference call to go over these achievements and methodologies. Scheduled for the morning, this platform aims to provide further insights about the fourth quarter’s performance and future strategies.
About Carlyle Credit Income Fund
Carlyle Credit Income Fund (NYSE: CCIF) is a closed-end fund that is externally managed and focuses on investments in equity and junior debt tranches of collateralized loan obligations (CLOs). These CLOs are backed primarily by U.S. senior secured loans, supported by a diverse array of borrowers across several industry segments. As the Fund draws upon the significant resources and expertise of Carlyle, one of the world's largest CLO managers, it aims to enrich its investment portfolios and provide value to its investors.
For more information regarding CCIF, you can visit their official website.
Frequently Asked Questions
What is the significance of the dividend increase for CCIF?
The dividend increase signals CCIF's commitment to providing substantial returns to its shareholders and reflects its strong financial performance.
How much did CCIF invest in CLOs this quarter?
CCIF funded $39.6 million in new CLO investments during the past quarter, showcasing its investment strategy's effectiveness.
What kind of preferred shares does CCIF have?
CCIF has 8.75% Series A Term Preferred Shares that are part of their investment offerings for shareholders.
How can investors learn more about CCIF?
Investors can find more detailed information by visiting Carlyle Credit Income Fund's official website.
When is the conference call for CCIF's financial results?
The conference call for discussing CCIF's fourth quarter financial results is scheduled for 10:00 a.m. EDT on the specified date.
