Carlyle Credit Income Fund Cuts Monthly Dividend to $0.06 Per Share
Carlyle Credit Income Fund declared a reduced monthly dividend of $0.06 per share for March through May 2026, down from its previous rate. The closed-end fund focused on CLO equity investments also declared monthly dividends on its Series D preferred shares.
Carlyle Credit Income Fund (NYSE: CCIF), a closed-end fund focused on investing in equity and junior debt tranches of collateralized loan obligations, declared a monthly dividend of $0.06 per common share for March, April, and May 2026. The dividend represents a reduction from the fund's previous rate. Read more dividend announcements.
The fund reported net asset value per common share of $5.17 as of December 31, 2025. Based on the February 23, 2026 closing price, the new dividend equates to a 20% annualized rate.
"In light of current market conditions, we are reducing our monthly dividend to $0.06 per share, which remains fully covered by core net investment income," said Nishil Mehta, CCIF's Principal Executive Officer and President. The fund reported core net investment income of $0.32 per common share for the first quarter of 2026, compared to declared dividends of $0.315 per share.
Dividend Payment Schedule
| Security | Amount Per Share | Record Date | Payment Date |
|---|---|---|---|
| Common Stock | $0.06 | March 19, 2026 | March 31, 2026 |
| Common Stock | $0.06 | April 20, 2026 | April 30, 2026 |
| Common Stock | $0.06 | May 18, 2026 | May 29, 2026 |
| Series D Preferred | $0.1536 | March 19, 2026 | March 31, 2026 |
| Series D Preferred | $0.1536 | April 20, 2026 | April 30, 2026 |
| Series D Preferred | $0.1536 | May 18, 2026 | May 29, 2026 |
Portfolio and Capital Activity
During the first quarter of 2026, the fund deployed $13.1 million in new CLO investments with a weighted average GAAP yield of 13.55%. The aggregate portfolio weighted average GAAP yield stood at 13.56% as of December 31, 2025. Total fair value of investments was $181.8 million.
The fund completed three resets in its underlying portfolio during the quarter, extending its reinvestment runway. Cash yield on CLO investment quarterly payments received during the quarter was 22.67%, equating to $0.48 of recurring cash flows per share.
CCIF refinanced $52 million of 8.75% Series A Term Preferred Shares with lower-cost preferred shares carrying a weighted average coupon of 7.33%. The fund issued $30 million of 7.375% Series D Term Preferred Shares (NYSE: CCID) due 2028 on October 30, 2025, and completed a private placement of 7.25% Series E Convertible Preferred Shares for net proceeds of approximately $16.3 million the same day. The Series A shares were redeemed on November 3, 2025.
Net investment income was $0.09 per common share for the first quarter of 2026, compared to $0.15 in the prior quarter. The decline was driven by $0.06 per share of interest expense from the amortization of deferred offering costs associated with the redemption of the Series A preferred shares. Adjusted net investment income was $0.17 per common share, in line with the prior quarter.