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

Blackrock Tcp Capital Corp. (NASDAQ:TCPC) announced a quarterly dividend on Friday, February 27th. Investors of record on Tuesday, March 17th will be paid a dividend of 0.17 per share by the investment management company on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a yield of 16.6%. The ex-dividend date is Tuesday, March 17th.

Blackrock Tcp Capital has raised its dividend payment by an average of 0.0%annually over the last three years. 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 tumble. 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 Down 9.3%

Blackrock Tcp Capital stock traded down $0.42 during mid-day trading on Friday, hitting $4.09. 2,963,702 shares of the company’s stock were exchanged, compared to its average volume of 954,190. Blackrock Tcp Capital has a 1-year low of $4.05 and a 1-year high of $8.83. The stock has a 50 day moving average of $5.21 and a two-hundred day moving average of $5.87. The company has a current ratio of 14.55, a quick ratio of 14.55 and a debt-to-equity ratio of 1.42. The stock has a market cap of $347.00 million, a P/E ratio of -31.46 and a beta of 0.89.

Blackrock Tcp Capital (NASDAQ:TCPC) last announced its quarterly earnings results on Friday, February 27th. The investment management company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.03). The company had revenue of $27.13 million during the quarter, compared to analyst estimates of $46.99 million. Blackrock Tcp Capital had a positive return on equity of 15.27% and a negative net margin of 4.20%. As a group, analysts anticipate that Blackrock Tcp Capital will post 1.65 EPS for the current fiscal year.

Institutional Investors Weigh In On Blackrock Tcp Capital

Several hedge funds and other institutional investors have recently modified their holdings of the stock. State of Alaska Department of Revenue acquired a new position in Blackrock Tcp Capital during the 3rd quarter valued at $25,000. Sound Income Strategies LLC increased its holdings in shares of Blackrock Tcp Capital by 188.7% during the 4th quarter. Sound Income Strategies LLC now owns 5,072 shares of the investment management company’s stock worth $29,000 after purchasing an additional 3,315 shares during the period. Nomura Asset Management Co. Ltd. bought a new position in shares of Blackrock Tcp Capital during the 2nd quarter worth about $30,000. MTM Investment Management LLC acquired a new position in shares of Blackrock Tcp Capital during the second quarter valued at about $46,000. Finally, Blue Trust Inc. acquired a new position in shares of Blackrock Tcp Capital during the fourth quarter valued at about $59,000.

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.