Trinity Capital Inc. (NASDAQ:TRIN) to Issue $0.17 Monthly Dividend

Key Points

• Trinity Capital declared a $0.17-per-share monthly dividend, payable December 31 to shareholders of record December 11. The dividend implies an annualized payout of $2.04 and a yield of approximately 11.6%.
• The dividend payout ratio is currently 100%, though analysts expect next year’s earnings of $2.12 per share to cover the annual dividend at a projected 96.2% payout ratio.
• Trinity Capital’s latest quarterly results slightly missed expectations, with EPS of $0.51 versus $0.52 expected and revenue of $87.17 million versus $91.44 million estimated. Shares opened at $17.60, down 1.1%.

Trinity Capital Inc. (NASDAQ:TRIN - Get Free Report) announced a monthly dividend on Wednesday, September 16th. Investors of record on Friday, December 11th will be paid a dividend of 0.17 per share on Thursday, December 31st. This represents a c) dividend on an annualized basis and a dividend yield of 11.6%. The ex-dividend date of this dividend is Friday, December 11th.

Trinity Capital has a dividend payout ratio of 100.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall. Equities analysts expect Trinity Capital to earn $2.12 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 96.2%.

Trinity Capital Trading Down 1.1%

TRIN opened at $17.60 on Thursday. The stock has a market capitalization of $1.67 billion, a P/E ratio of 9.31 and a beta of 0.61. Trinity Capital has a 12 month low of $14.13 and a 12 month high of $18.90. The firm's fifty day simple moving average is $17.98 and its 200 day simple moving average is $16.76.

Trinity Capital (NASDAQ:TRIN - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). Trinity Capital had a return on equity of 14.94% and a net margin of 43.45%.The firm had revenue of $87.17 million for the quarter, compared to the consensus estimate of $91.44 million. On average, equities research analysts predict that Trinity Capital will post 2.1 EPS for the current fiscal year.

Insider Activity at Trinity Capital

In related news, CEO Kyle Brown acquired 2,296 shares of the firm's stock in a transaction dated Friday, August 7th. The stock was bought at an average price of $18.04 per share, for a total transaction of $41,419.84. Following the acquisition, the chief executive officer directly owned 612,262 shares of the company's stock, valued at approximately $11,045,206.48. The trade was a 0.38% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.25% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Nomura Asset Management Co. Ltd. bought a new stake in shares of Trinity Capital during the 4th quarter worth approximately $25,000. Trust Co. of Vermont acquired a new stake in Trinity Capital in the second quarter valued at $25,000. Burk Holdings LLC bought a new position in shares of Trinity Capital in the 2nd quarter valued at about $32,000. Sunbelt Securities Inc. acquired a new position in shares of Trinity Capital during the 1st quarter worth about $37,000. Finally, Fifth Third Bancorp acquired a new stake in Trinity Capital in the 1st quarter valued at about $37,000. 24.62% of the stock is currently owned by institutional investors.

About Trinity Capital

Trinity Capital Inc is a specialty finance company that provides debt financing to venture capital-backed companies in the growth and expansion stages of their development. The company primarily serves businesses that may have limited access to traditional bank financing, offering capital designed to support product development, hiring, acquisitions, working capital and other corporate needs.

Trinity's financing solutions include venture debt, equipment financing and other customized loans.

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