Blackrock Tcp Capital Corp. (NASDAQ:TCPC) to Issue Quarterly Dividend of $0.17

Key Points

• BlackRock TCP Capital declared a quarterly dividend of $0.17 per share, payable September 30 to shareholders of record on September 16. The payment implies an annualized dividend of $0.68 and a 16.7% yield.
• The company exceeded second-quarter expectations, reporting adjusted EPS of $0.22 versus the $0.20 consensus and revenue of $40.02 million versus $38.36 million.
• TCPC agreed to sell about $523 million of portfolio investments to Pantheon, which management expects to reduce pro forma net leverage to roughly 0.4 times; however, the sale could also reduce future interest income and earnings capacity.

Blackrock Tcp Capital Corp. (NASDAQ:TCPC - Get Free Report) announced a quarterly dividend on Thursday, August 6th. Stockholders 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) dividend on an annualized basis and a dividend yield of 16.7%. The ex-dividend date 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 payout ratio of 63.6% meaning its dividend is sufficiently covered by earnings. Research 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 Price Performance

Shares of TCPC stock traded up $0.17 during trading on Friday, hitting $4.08. The company had a trading volume of 1,295,708 shares, compared to its average volume of 1,014,729. The company has a debt-to-equity ratio of 1.64, a quick ratio of 21.44 and a current ratio of 21.44. The firm has a market capitalization of $341.90 million, a P/E ratio of -2.73 and a beta of 0.94. The stock's 50-day moving average price is $3.41 and its 200 day moving average price is $3.97. Blackrock Tcp Capital has a one year low of $3.08 and a one year high of $7.28.

Blackrock Tcp Capital (NASDAQ:TCPC - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The investment management company reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.20 by $0.02. The firm had revenue of $40.02 million for the quarter, compared to analyst estimates of $38.36 million. Blackrock Tcp Capital had a positive return on equity of 14.30% and a negative net margin of 66.92%. Equities analysts expect that Blackrock Tcp Capital will post 0.83 EPS for the current fiscal year.

Key Headlines Impacting Blackrock Tcp Capital

Here are the key news stories impacting Blackrock Tcp Capital this week:

• Positive Sentiment: Keefe, Bruyette & Woods upgraded TCPC from “underperform” to “market perform,” signaling that the analyst sees reduced downside risk following the company’s recent strategic actions. Finviz
• Positive Sentiment: BlackRock TCP reported second-quarter adjusted earnings of $0.22 per share, above the $0.20 consensus estimate, while revenue of $40.02 million also exceeded expectations of $38.36 million. The results provide a near-term fundamental catalyst, although earnings were below $0.32 per share a year earlier. BlackRock TCP Beats Q2 Earnings and Revenue Estimates
• Positive Sentiment: The company announced a roughly $523 million sale of portfolio investments to Pantheon. Management said the transaction is expected to materially strengthen its financial position and reduce pro forma net leverage to approximately 0.4 times, potentially lowering balance-sheet risk and increasing capacity for future investments or capital returns. BlackRock TCP Announces Second Quarter Results and Portfolio Sale
• Neutral Sentiment: BlackRock TCP is conducting a strategic review alongside the portfolio sale. The review could support shareholder value, but its eventual outcomes and timing remain uncertain. BlackRock TCP Outlines Strategic Review
• Negative Sentiment: Selling nearly half of the loan portfolio may reduce future interest income and earnings capacity, while second-quarter earnings already declined year over year. Investors will likely assess whether the benefits of lower leverage outweigh the potential loss of portfolio income. BlackRock TCP to Sell Nearly Half of Loan Portfolio

About Blackrock Tcp Capital

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.

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