- Pays: monthly — the $0.58 quarterly regular is paid as three $0.1934 monthly installments, plus a $0.06 quarterly supplemental ($0.64 per quarter in total).
- The cadence change: switched from one quarterly regular payment to three monthly payments beginning October 2025 (announced August 27, 2025).
- The regular: held at $0.58 per quarter since at least the September 2024 quarter — no cut; the supplemental rose from $0.05 to $0.06 during 2025.
- What it is: an internally managed Dallas-based BDC making $5M-$50M first-lien, second-lien and equity co-investments in lower-middle-market businesses.
- The foundation: NAV per share roughly flat at $16.61 (mid-2026) vs $16.59 two years earlier — stable through a period when peers eroded.
- Coverage (quarter ended June 30, 2026): NII $0.58 per share vs $0.64 paid ($0.58 regular + $0.06 supplemental) — 100% of the regular covered, ~91% of the total. The honest watch item: non-accruals rose to 2.9% of the portfolio at cost (1.1% at fair value, eight positions) from 2.4% the prior quarter; PIK ~8% of investment income; regulatory debt-to-equity 0.91x; NAV $16.61.
CSWC issues new shares above net asset value through an at-the-market program, which is accretive rather than dilutive when done at a premium. The supplemental is discretionary; the $0.58 regular is the planning number.
CSWC pays monthly since October 2025 (quarterly before that). Each point below is one payment; the shift to smaller, more frequent installments is visible at the right edge — same quarterly money, three slices.
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Each point is one payment; the line ends at the most recent payout. The table below totals them by year.
- Trailing 12 months: $2.56 per share across 12 payments — down 13% from $2.94 in the 12 months before (split-adjusted, in today's share terms). What a change like that does to your income →
- Current pace: recent payments annualize to $2.32 — 9% below the trailing figure. When those two disagree, the trailing yield is quoting the past. Live cut & raise board →
- Share price, same 12 months: up 7% (dividends excluded) — income and principal are one story. Erosion Index →
- Record: 112 payments over 39 years; the largest single payment was $1.61 (May 2012), split-adjusted.
- Payment drops ≥20% below trend, last 24 months: 5. Get alerted to the next one →
- Payment steadiness: the last 12 checks wobble ±10% around their median. Compare that against any fund →
Every figure above is computed from CSWC's actual payment record and share-price history as of the date shown — not copied from a fact sheet. Recomputed regularly; the chart above always shows the live data.
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| Recent Ex-Dividend Dates | Dividend / Share |
|---|
"Next expected" is estimated from CSWC's recent payment rhythm — the fund announces exact dates shortly before each payout, and the data feed can lag a few days. You must own shares before the ex-dividend date to receive that payout; the cash typically arrives days later. See every fund's upcoming date on the live dividend calendar.
A real total-return estimate, assuming every payout was reinvested — including what happened to the share price. Before taxes and fees. Past performance does not predict the future.
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These are assumptions, not a prediction. Want the full chart and tax options? Open the full calculator →
The 2025 move to monthly installments changes the chart's shape, not the income: three $0.1934 checks replace one $0.58 check. Read the year-by-year table for the real trend, which is flat-to-up — the regular hasn't been cut, the supplemental grew, and NAV held through a stretch when PSEC, PFLT, OBDC, and HRZN all reduced.
Lower-middle-market lending is a different business from the upper-market giants — smaller loans, more equity co-investment, less competition — and internal management keeps the fee drag low. The peer set is MAIN and HTGC; overlay them on the compare tool.
| Year | Total Dividends / Share | Payments | Change vs Prior Year |
|---|
Data source: Yahoo Finance. Figures are per share; the current year may be partial and figures should be verified against official sources.
Calculated from complete calendar years in the data above. Past results don't guarantee future payments.
When Is CSWC's Next Ex-Dividend Date?
CSWC pays monthly (regular dividend paid in three monthly installments) plus a quarterly supplemental. The exact date of each payout is announced by the fund only shortly beforehand, so no site can promise the next date — but the live schedule box above shows the most recent ex-dividend date and the expected window for the next one, computed from CSWC's actual payment rhythm. Remember: you must own shares before the ex-dividend date to receive that payout.
A Steady Regular, Sliced Monthly
Capital Southwest's record in its modern BDC form is a regular dividend that has only held or grown, a supplemental on top, and — since October 2025 — monthly installments in place of quarterly lumps. The chart above shows every payment; the installment switch makes the recent points smaller without making the income smaller.
The Lower-Middle-Market Advantage
While the largest BDCs fought over upper-middle-market loans and watched spreads compress, CSWC kept lending to smaller companies where competition is thinner and equity co-investments add upside. Flat NAV through 2024-26 is the evidence that the dividends were earned rather than borrowed from the book — the difference between this chart and the sector's 2026 cutters.
Where CSWC Fits
Among the steadiest BDC records, with MAIN-style monthly cadence and internal management. For the same cadence from the BDC that has never cut, see MAIN; next expected date on the live calendar.
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Read: How to Choose Dividend Stocks