BlackRock TCP Capital Corp. (NASDAQ:TCPC) Plans Quarterly Dividend of $0.44

BlackRock TCP Capital Corp. (NASDAQ:TCPC) announced a quarterly dividend on Wednesday, November 6th, Zacks reports. Shareholders of record on Tuesday, December 17th will be given a dividend of 0.44 per share by the investment management company on Tuesday, December 31st. This represents a $1.76 dividend on an annualized basis and a yield of 20.37%. The ex-dividend date of this dividend is Tuesday, December 17th. This is a boost from BlackRock TCP Capital’s previous quarterly dividend of $0.34.

BlackRock TCP Capital has increased its dividend by an average of 6.0% per year over the last three years. BlackRock TCP Capital has a dividend payout ratio of 95.8% 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 $1.48 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 91.9%.

BlackRock TCP Capital Price Performance

TCPC traded up $0.09 during trading on Thursday, reaching $8.64. 118,176 shares of the company traded hands, compared to its average volume of 496,293. The firm has a fifty day simple moving average of $8.44 and a 200 day simple moving average of $9.74. BlackRock TCP Capital has a 12-month low of $7.71 and a 12-month high of $12.43. The company has a debt-to-equity ratio of 1.51, a quick ratio of 44.47 and a current ratio of 44.47. The company has a market cap of $739.50 million, a P/E ratio of -16.13 and a beta of 1.47.

BlackRock TCP Capital (NASDAQ:TCPC) last released its earnings results on Wednesday, August 7th. The investment management company reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. BlackRock TCP Capital had a positive return on equity of 14.42% and a negative net margin of 20.11%. The business had revenue of $71.53 million during the quarter, compared to the consensus estimate of $70.39 million. During the same period last year, the company earned $0.48 earnings per share. On average, equities analysts forecast that BlackRock TCP Capital will post 1.66 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. StockNews.com lowered BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research note on Thursday, August 15th. Wells Fargo & Company lowered their price objective on BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating on the stock in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods lowered their price objective on BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. Finally, LADENBURG THALM/SH SH lowered BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research report on Thursday, August 8th. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $8.83.

Insider Activity

In other BlackRock TCP Capital news, Director Philip M. Tseng acquired 5,000 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was bought at an average cost of $9.07 per share, for a total transaction of $45,350.00. Following the completion of the purchase, the director now directly owns 17,481 shares in the company, valued at $158,552.67. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Philip M. Tseng purchased 10,000 shares of BlackRock TCP Capital stock in a transaction dated Tuesday, September 10th. The stock was acquired at an average cost of $9.10 per share, with a total value of $91,000.00. Following the completion of the transaction, the director now directly owns 27,481 shares of the company’s stock, valued at $250,077.10. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Philip M. Tseng acquired 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average cost of $9.07 per share, for a total transaction of $45,350.00. Following the transaction, the director now owns 17,481 shares of the company’s stock, valued at approximately $158,552.67. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 42,000 shares of company stock worth $381,875 over the last three months. 0.16% of the stock is currently owned by corporate insiders.

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.