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NEW YORK, Aug. 21, 2024 (GLOBE NEWSWIRE) -- Carlyle Credit Income Fund (“we,” “us,” “our,” “CCIF” or the “Fund”) (NYSE: CCIF) today announced its financial results for its third quarter ending June 30, 2024. The full detailed presentation of the Fund’s third quarter 2024 financial results can be viewed on the Fund’s website carlylecreditincomefund.com/investor-dashboard.
Lauren Basmadjian, CCIF’s Chief Executive Officer said, “We are pleased with our progress and accomplishments during our first year as CCIF’s investment advisor, including rotating the portfolio into CLO equity, issuing $52 million of preferred stock, growing the Fund through our ATM program, and increasing the dividend from 8.00% to 16.49% based on the Fund’s net asset value as of July 31st. During the third quarter, we continued to source compelling CLO equity investments, purchasing $12.2 million of new investments with a yield of 19.49%. We observed near-record activity levels in the CLO market during the first half of 2024 and remain optimistic about market opportunity through the remainder of the year.”
Over the past quarter, the Fund has successfully:
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Funded $12.2 million in new CLO investments with a weighted average GAAP yield of 19.49%. The aggregate portfolio weighted average GAAP yield was 20.26% as of June 30, 2024.
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Maintained the monthly dividend of 10.5 cents through November 2024, equating to a 14.81% annualized dividend based on share price as of August 20, 2024, or 16.49% based on the Fund’s NAV as of July 31, 2024.
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Sold 680,000 common shares in connection with the ATM offering program at a premium to NAV for net proceeds of $5.5 million.
Net investment income for the third quarter of 2024 was $0.32 per common share and net asset value per common share was $7.68 as of June 30, 2024. The total fair value of investments was $138.0 million as of June 30, 2024.
Dividends
CCIF is maintaining a monthly dividend on shares of the Fund’s common stock of $0.1050 per share for September, October, and November 2024. The monthly dividend represents an annualized yield of 14.81% based on closing share price of $8.51 on August 20, 2024.
| Security | Amount per Share | Record Dates | Payable Dates | |
| Common Stock | $0.1050 | September 18, 2024 | September 30, 2024 | |
| October 21, 2024 | October 31, 2024 | |||
| November 18, 2024 | November 29, 2024 | |||
CCIF is also pleased to announce the declaration of dividends on shares of the Fund’s 8.75% Series A Term Preferred Shares of $0.1823 per share for September, October, and November 2024.
| Security | Amount per Share | Record Dates | Payable Dates | |
| Series A Preferred Shares | $0.1823 | September 18, 2024 | September 30, 2024 | |
| October 21, 2024 | October 31, 2024 | |||
| November 18, 2024 | November 29, 2024 | |||
Conference Call
The Fund will host a conference call at 10:00 a.m. EDT on Thursday, August 22, 2024 to discuss its third quarter financial results. Please register for the conference call here. The conference call information will also be available via a link on Carlyle Credit Income Fund’s website and the recording will be available on our website soon after the call’s completion.