Blackrock Tcp Capital Corp. (TCPC) to Distribute Quarterly Dividend of $0.17 on September 30th

Blackrock Tcp Capital Corp. (NASDAQ:TCPC) declared a quarterly dividend on Thursday, August 6th. Shareholders of record on Wednesday, September 16th will be given a dividend of 0.17 per share by the investment management company on Wednesday, September 30th. This represents a c) annualized dividend and a yield of 16.5%. The ex-dividend date of this dividend is Wednesday, September 16th.

Blackrock Tcp Capital has decreased its dividend by an average of 0.0%annually over the last three years. Blackrock Tcp Capital has a dividend payout ratio of 63.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Blackrock Tcp Capital to earn $0.75 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 90.7%.

Blackrock Tcp Capital Stock Performance

Shares of NASDAQ:TCPC opened at $4.11 on Friday. Blackrock Tcp Capital has a 1 year low of $3.08 and a 1 year high of $7.28. The stock has a market capitalization of $344.83 million, a price-to-earnings ratio of -3.21 and a beta of 0.94. The company has a debt-to-equity ratio of 1.64, a current ratio of 21.44 and a quick ratio of 21.44. The company’s 50 day simple moving average is $3.42 and its 200 day simple moving average is $3.97.

Blackrock Tcp Capital (NASDAQ:TCPC) last released its earnings results on Thursday, August 6th. The investment management company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.02. The firm had revenue of $40.02 million during the quarter, compared to analysts’ expectations of $38.36 million. Blackrock Tcp Capital had a positive return on equity of 13.40% and a negative net margin of 61.27%. As a group, research analysts predict that Blackrock Tcp Capital will post 0.83 EPS for the current fiscal year.

Blackrock Tcp Capital Company Profile

BlackRock TCP Capital Corp is a publicly traded business development company (BDC) listed on the NASDAQ under the ticker TCPC. Externally managed by BlackRock, the firm provides customized financing solutions to U.S. middle-market companies, with a focus on sponsor-backed transactions. Its core strategy centers on delivering current income and capital appreciation through a diversified portfolio of debt and equity investments across a variety of sectors, including consumer products, healthcare, business services and industrials.

Since its initial public offering in 2013, BlackRock TCP Capital has partnered with private equity sponsors to underwrite and structure senior secured first-lien loans, second-lien loans, mezzanine debt and select equity co-investments.