BlackRock TCP Capital Corp. (NASDAQ:TCPC) Raises Dividend to $0.44 Per Share

BlackRock TCP Capital Corp. (NASDAQ:TCPC) announced a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Stockholders of record on Tuesday, December 17th will be paid 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 dividend yield of 20.21%. The ex-dividend date is Tuesday, December 17th. This is an increase from BlackRock TCP Capital’s previous quarterly dividend of $0.34.

BlackRock TCP Capital has increased its dividend payment 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. Equities 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 Trading Up 1.9 %

Shares of TCPC stock opened at $8.71 on Friday. BlackRock TCP Capital has a 12 month low of $7.71 and a 12 month high of $12.43. The company has a current ratio of 44.47, a quick ratio of 44.47 and a debt-to-equity ratio of 1.51. The firm has a fifty day moving average price of $8.44 and a 200 day moving average price of $9.74.

BlackRock TCP Capital (NASDAQ:TCPC) last released its quarterly earnings data on Wednesday, November 6th. The investment management company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.04). BlackRock TCP Capital had a positive return on equity of 14.28% and a negative net margin of 15.22%. The business had revenue of $70.93 million for the quarter, compared to analyst estimates of $69.13 million. During the same period in the prior year, the company posted $0.49 earnings per share. As a group, sell-side analysts expect that BlackRock TCP Capital will post 1.66 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on TCPC shares. StockNews.com upgraded shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research note on Thursday. LADENBURG THALM/SH SH cut BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research report on Thursday, August 8th. Wells Fargo & Company lifted their price target on BlackRock TCP Capital from $7.50 to $8.00 and gave the stock an “underweight” rating in a research report on Thursday. Finally, Keefe, Bruyette & Woods decreased their price objective on BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating for the company in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $9.00.

Insider Activity at BlackRock TCP Capital

In related news, CEO Rajneesh Vig purchased 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was purchased at an average cost of $9.09 per share, with a total value of $227,250.00. Following the completion of the acquisition, the chief executive officer now directly owns 130,930 shares in the company, valued at $1,190,153.70. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In other BlackRock TCP Capital news, Director Philip M. Tseng acquired 5,000 shares of the business’s stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $9.07 per share, for a total transaction of $45,350.00. Following the completion of the transaction, the director now owns 17,481 shares of the company’s stock, valued at $158,552.67. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Rajneesh Vig acquired 25,000 shares of BlackRock TCP Capital stock in a transaction that occurred on Thursday, August 29th. The shares were purchased at an average cost of $9.09 per share, with a total value of $227,250.00. Following the completion of the acquisition, the chief executive officer now owns 130,930 shares of the company’s stock, valued at $1,190,153.70. The trade was 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 in the last quarter. Company insiders own 0.16% of the company’s stock.

About BlackRock TCP Capital

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.