BlackRock TCP Capital Corp (TCPC) to Issue $0.36 Quarterly Dividend

BlackRock TCP Capital Corp (NASDAQ:TCPC) declared a quarterly dividend on Thursday, November 8th, Zacks reports. Stockholders of record on Monday, December 17th will be paid a dividend of 0.36 per share by the investment management company on Monday, December 31st. This represents a $1.44 annualized dividend and a dividend yield of 10.18%. The ex-dividend date of this dividend is Friday, December 14th.

BlackRock TCP Capital has a dividend payout ratio of 91.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect BlackRock TCP Capital to earn $1.60 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 90.0%.

Shares of BlackRock TCP Capital stock traded up $0.02 on Friday, hitting $14.15. The stock had a trading volume of 13,252 shares, compared to its average volume of 284,589. The company has a debt-to-equity ratio of 0.93, a quick ratio of 6.38 and a current ratio of 6.38. BlackRock TCP Capital has a one year low of $13.71 and a one year high of $16.25. The stock has a market capitalization of $827.41 million, a price-to-earnings ratio of 7.14, a P/E/G ratio of 1.79 and a beta of 0.70.

BlackRock TCP Capital (NASDAQ:TCPC) last announced its quarterly earnings results on Thursday, November 8th. The investment management company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. BlackRock TCP Capital had a return on equity of 11.22% and a net margin of 32.55%. The company had revenue of $49.48 million during the quarter, compared to analyst estimates of $48.06 million. As a group, equities research analysts forecast that BlackRock TCP Capital will post 1.57 earnings per share for the current fiscal year.

A number of brokerages recently commented on TCPC. Zacks Investment Research raised BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research note on Tuesday, October 16th. BidaskClub raised BlackRock TCP Capital from a “strong sell” rating to a “sell” rating in a research note on Friday, October 12th. Wells Fargo & Co dropped their price target on BlackRock TCP Capital from $17.00 to $16.00 and set an “outperform” rating for the company in a research note on Thursday, October 4th. JMP Securities dropped their price target on BlackRock TCP Capital from $17.00 to $16.50 and set a “market outperform” rating for the company in a research note on Tuesday, August 28th. Finally, National Securities reaffirmed a “buy” rating and issued a $19.00 price target on shares of BlackRock TCP Capital in a research note on Monday, August 13th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. BlackRock TCP Capital currently has a consensus rating of “Hold” and a consensus target price of $16.92.

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About BlackRock TCP Capital

BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It seeks to invest in the United States.

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Dividend History for BlackRock TCP Capital (NASDAQ:TCPC)

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