Blackrock Tcp Capital Corp. (NASDAQ:TCPC – Get Free Report) declared a quarterly dividend on Thursday, May 7th. Stockholders of record on Tuesday, June 16th will be given a dividend of 0.17 per share by the investment management company on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a dividend yield of 16.2%. The ex-dividend date of this dividend is Tuesday, June 16th.
Blackrock Tcp Capital has decreased its dividend by an average of 0.0%per year over the last three years. Blackrock Tcp Capital has a payout ratio of 63.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Blackrock Tcp Capital to earn $0.66 per share next year, which means the company may not be able to cover its $0.68 annual dividend with an expected future payout ratio of 103.0%.
Blackrock Tcp Capital Stock Performance
TCPC stock opened at $4.19 on Friday. The business’s fifty day moving average is $3.93 and its 200-day moving average is $4.97. The company has a quick ratio of 17.66, a current ratio of 17.66 and a debt-to-equity ratio of 1.73. The company has a market cap of $352.92 million, a P/E ratio of -2.81 and a beta of 0.98. Blackrock Tcp Capital has a twelve month low of $3.43 and a twelve month high of $8.06.
Insider Transactions at Blackrock Tcp Capital
In related news, COO Patrick Wolfe acquired 6,850 shares of the business’s stock in a transaction on Friday, March 13th. The stock was purchased at an average cost of $3.65 per share, for a total transaction of $25,002.50. Following the completion of the transaction, the chief operating officer directly owned 16,086 shares of the company’s stock, valued at approximately $58,713.90. The trade was a 74.17% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.37% of the stock is owned by company insiders.
Institutional Investors Weigh In On Blackrock Tcp Capital
Hedge funds and other institutional investors have recently made changes to their positions in the business. State of Alaska Department of Revenue acquired a new stake in shares of Blackrock Tcp Capital in the third quarter valued at approximately $25,000. Sound Income Strategies LLC raised its position in shares of Blackrock Tcp Capital by 188.7% in the fourth quarter. Sound Income Strategies LLC now owns 5,072 shares of the investment management company’s stock valued at $29,000 after buying an additional 3,315 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new stake in shares of Blackrock Tcp Capital in the third quarter valued at approximately $65,000. Blue Trust Inc. acquired a new stake in shares of Blackrock Tcp Capital in the fourth quarter valued at approximately $59,000. Finally, Creative Planning acquired a new stake in shares of Blackrock Tcp Capital in the second quarter valued at approximately $85,000.
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.
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