Blackrock Tcp Capital Corp. Plans Quarterly Dividend of $0.25 (NASDAQ:TCPC)

Key Points

• Blackrock Tcp Capital Corp. announced a quarterly dividend of $0.25 per share, with an ex-dividend date on September 16th and payment scheduled for September 30th, resulting in a yield of 14.1%.
• The company has a dividend payout ratio of 93.5%, indicating it is currently covered by earnings, but future earnings declines may threaten this coverage.
• Recently, institutional investors have significantly increased their holdings in Blackrock Tcp Capital, including Envestnet Asset Management, which raised its stake by 623.5%.

Blackrock Tcp Capital Corp. (NASDAQ:TCPC - Get Free Report) announced a quarterly dividend on Friday, August 8th, Wall Street Journal reports. Stockholders of record on Tuesday, September 16th will be paid a dividend of 0.25 per share by the investment management company on Tuesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 14.1%. The ex-dividend date of this dividend is Tuesday, September 16th.

Blackrock Tcp Capital has a payout ratio of 93.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall. Equities research analysts expect Blackrock Tcp Capital to earn $1.42 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 70.4%.

Blackrock Tcp Capital Stock Up 0.7%

NASDAQ TCPC traded up $0.05 during trading hours on Wednesday, reaching $7.10. 167,644 shares of the company's stock were exchanged, compared to its average volume of 588,277. The company's 50-day moving average is $7.56 and its two-hundred day moving average is $7.78. Blackrock Tcp Capital has a one year low of $6.27 and a one year high of $9.72. The company has a debt-to-equity ratio of 1.59, a quick ratio of 14.07 and a current ratio of 14.06. The company has a market capitalization of $603.78 million, a price-to-earnings ratio of -41.74 and a beta of 1.01.

Blackrock Tcp Capital (NASDAQ:TCPC - Get Free Report) last posted its earnings results on Thursday, August 7th. The investment management company reported $0.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.34 by ($0.02). Blackrock Tcp Capital had a positive return on equity of 15.12% and a negative net margin of 4.98%. The business had revenue of $51.47 million for the quarter, compared to the consensus estimate of $56.16 million. On average, analysts forecast that Blackrock Tcp Capital will post 1.65 EPS for the current fiscal year.

Blackrock Tcp Capital Company Profile

BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, small businesses, debt securities, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It typically invests in communication services, public relations services, television, wireless telecommunication services, apparel, textile mills, restaurants, retailing, energy, oil and gas extraction, Patent owners and Lessors, Federal and Federally- Sponsored Credit agencies, insurance, hospital and healthcare centers, Biotechnology, engineering services, heavy electrical equipment, tax accounting, scientific and related consulting services, charter freight air transportation, Information technology consulting, application hosting services, software diagram and design, computer aided design, communication equipment, electronics manufacturing equipment, computer components, chemicals.