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NEW YORK, May 29, 2024 /PRNewswire/ -- Carlyle Credit Income Fund ("we," "us," "our," "CCIF" or the "Fund") (NYSE: CCIF) today announced its financial results for its second quarter ending March 31, 2024. The full detailed presentation of the Fund's second quarter 2024 financial results can be viewed on the Fund's website carlylecreditincomefund.com/investor-dashboard.
Lauren Basmadjian, CCIF's Chief Executive Officer said, "As of quarter end, we have successfully deployed the remaining proceeds from the preferred stock offering into new CLO equity positions. Our diversified portfolio of CLO investments is producing historically high cash distributions, further supporting our original investment thesis of rotating the fund into a CLO investing strategy."
Over the past quarter, the Fund has successfully:
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Deployed the remaining proceeds from the preferred stock offering with a weighted average GAAP yield of 19.4%. The aggregate portfolio weighted average GAAP yield was 20.8% as of March 31, 2024.
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Maintained the monthly dividend of 10.5 cents through August 2024, equating to a 15.95% annualized dividend based on share price as of May 28, 2024.
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Sold 570,000 common shares in connection with the ATM offering program at a premium to NAV for net proceeds of $4.5 million.
Net investment income for the second quarter of 2024 was $0.33 per common share and net asset value per common share was $7.88 on March 31, 2024. The total fair value of investments was $142.1 million as of March 31, 2024.
Dividends
CCIF is maintaining a monthly dividend on shares of the Fund's common stock of $0.1050 per share for June, July, and August 2024. The monthly dividend represents an annualized yield of 15.95% based on closing share price of $7.90 on May 28, 2024.
| Security | Amount per Share | Record Dates | Payable Dates |
| Common Stock | $0.1050 | June 17, 2024 | June 28, 2024 |
| July 19, 2024 | July 31, 2024 | ||
| August 20, 2024 | August 30, 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 June, July, and August 2024.
| Security | Amount per Share | Record Dates | Payable Dates |
| Series A Preferred Shares | $0.1823 | June 17, 2024 | June 28, 2024 |
| July 19, 2024 | July 31, 2024 | ||
| August 20, 2024 | August 30, 2024 |
Conference Call
The Fund will host a conference call at 10:00 a.m. EDT on Thursday, May 30, 2024 to discuss its second 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.