Blackrock Tcp Capital Corp. (NASDAQ:TCPC) Shareholders Set to Receive $0.17 Quarterly Dividend

Blackrock Tcp Capital Corp. (NASDAQ:TCPC) announced a quarterly dividend on Thursday, November 5th. Shareholders of record on Thursday, December 17th will be paid a dividend of $0.17 per share by the investment management company on Thursday, December 31st. This represents a $0.68 annualized dividend and a yield of 15.9%. The ex-dividend date of this dividend is Thursday, December 17th.

Blackrock Tcp Capital has a dividend payout ratio of 63.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Blackrock Tcp Capital to earn $0.48 per share next year, which means the company may not be able to cover its $0.68 annual dividend with an expected future payout ratio of 141.7%.

Blackrock Tcp Capital Trading Down 2.3%

Shares of TCPC opened at $4.27 on Friday. Blackrock Tcp Capital has a 52-week low of $3.08 and a 52-week high of $6.25. The stock has a market cap of $358.27 million, a PE ratio of -3.34 and a beta of 0.98. The firm’s fifty day moving average is $4.07 and its two-hundred day moving average is $4.00. The company has a quick ratio of 33.70, a current ratio of 33.70 and a debt-to-equity ratio of 1.65.

Blackrock Tcp Capital (NASDAQ:TCPC) last issued its earnings results on Thursday, November 5th. The investment management company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. The business had revenue of $28.48 million during the quarter, compared to analysts’ expectations of $27.51 million. Blackrock Tcp Capital had a negative net margin of 61.27% and a positive return on equity of 13.85%. Research analysts forecast that Blackrock Tcp Capital will post 0.66 earnings per share for the current fiscal year.

Blackrock Tcp Capital Company Profile

BlackRock TCP Capital Corp. (NASDAQ: TCPC) is a business development company that provides financing to middle-market companies. The company primarily invests in privately negotiated senior secured loans, subordinated debt and other debt securities, while also making select equity investments. Its portfolio companies operate across a range of industries.

The company seeks to generate current income and, to a lesser extent, capital appreciation by investing in established businesses that may require financing for acquisitions, recapitalizations, refinancing, growth initiatives and other corporate purposes.