Shaikh Suhail A., the President and CEO of Investcorp Credit Management BDC, Inc. (NASDAQ:ICMB), a company with a market capitalization of $46.39 million and an impressive 24.22% dividend yield according to InvestingPro, has acquired 2,500 shares of the company's common stock. The shares were purchased on December 16, 2024, at an average price of $3.2075 per share, totaling approximately $8,018. Following this transaction, Suhail's direct ownership in the company increased to 7,000 shares. This acquisition reflects a strategic move by the executive, potentially signaling confidence in the company's future prospects. The company trades at a P/E ratio of 11.03 and has maintained dividend payments for 11 consecutive years. InvestingPro subscribers can access additional insights and detailed analysis in the comprehensive Pro Research Report.
In other recent news, Investcorp Credit Management BDC, Inc. has reported a successful quarter, featuring an increase in net asset value to $5.55 per share and a rise in net investment income to $2.3 million. This development comes alongside the election of two new directors, Suhail A. Shaikh and Thomas Sullivan, at the company's Annual Meeting of Stockholders. The company also amended its loan agreement with Capital One (NYSE:COF), National Association, leading to a reduction in applicable interest spreads.
Investcorp Credit Management BDC, Inc. has made significant investments in Argano, Likewize Corporation, and Integrity Marketing. The company's portfolio median EBITDA has grown, non-accruals have improved, and $13.1 million has been deployed across six portfolio companies. Despite concerns about high expenses relative to revenues, the company is making ongoing efforts to enhance operational efficiency.
These are among the recent developments at Investcorp Credit Management BDC, Inc., a company that maintains an impressive 24.84% dividend yield and has consistently paid dividends for 11 consecutive years. The company's recent activities reflect a focus on strategic portfolio management and optimal leverage levels.
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