BlackRock TCP Capital Corp. (NASDAQ:TCPC) Announces $0.25 Quarterly Dividend

BlackRock TCP Capital Corp. (NASDAQ:TCPC) announced a quarterly dividend on Friday, February 28th, Wall Street Journal reports. Shareholders of record on Monday, March 17th will be paid a dividend of 0.25 per share by the investment management company on Monday, March 31st. This represents a $1.00 annualized dividend and a yield of 11.85%. The ex-dividend date is Monday, March 17th.

BlackRock TCP Capital has raised its dividend payment by an average of 4.3% per year over the last three years. BlackRock TCP Capital has a dividend payout ratio of 116.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 $1.36 annual dividend with an expected future payout ratio of 95.8%.

BlackRock TCP Capital Price Performance

Shares of TCPC opened at $8.44 on Friday. The company has a current ratio of 39.37, a quick ratio of 39.37 and a debt-to-equity ratio of 1.34. BlackRock TCP Capital has a 12 month low of $7.71 and a 12 month high of $11.52. The stock’s 50 day moving average is $8.97 and its two-hundred day moving average is $8.81. The firm has a market cap of $722.39 million, a P/E ratio of -16.88 and a beta of 1.50.

Analyst Ratings Changes

TCPC has been the topic of several research reports. StockNews.com upgraded BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research report on Monday, November 18th. Wells Fargo & Company decreased their target price on BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating on the stock in a research report on Friday. Finally, Keefe, Bruyette & Woods decreased their target price on BlackRock TCP Capital from $9.00 to $8.50 and set a “market perform” rating on the stock in a research report on Friday. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $8.67.

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.