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

Blackrock Tcp Capital Corp. (NASDAQ:TCPC) declared a quarterly dividend on Thursday, August 6th. Shareholders of record on Wednesday, September 16th will be given a dividend of 0.17 per share by the investment management company on Wednesday, September 30th. This represents a c) annualized dividend and a yield of 16.7%. The ex-dividend date is Wednesday, September 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% indicating that its dividend is sufficiently covered by earnings. Analysts expect Blackrock Tcp Capital to earn $0.75 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 90.7%.

Blackrock Tcp Capital Trading Up 4.5%

TCPC traded up $0.17 during midday trading on Friday, reaching $4.08. 1,320,182 shares of the company were exchanged, compared to its average volume of 1,014,881. The stock has a market capitalization of $341.90 million, a P/E ratio of -2.72 and a beta of 0.94. Blackrock Tcp Capital has a one year low of $3.08 and a one year high of $7.28. The stock’s 50-day simple moving average is $3.41 and its 200 day simple moving average is $3.97. The company has a debt-to-equity ratio of 1.64, a quick ratio of 21.44 and a current ratio of 21.44.

Blackrock Tcp Capital (NASDAQ:TCPC) last announced its quarterly earnings results on Thursday, August 6th. The investment management company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. The business had revenue of $40.02 million for the quarter, compared to the consensus estimate of $38.36 million. Blackrock Tcp Capital had a negative net margin of 66.92% and a positive return on equity of 14.30%. As a group, analysts forecast that Blackrock Tcp Capital will post 0.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its position in shares of Blackrock Tcp Capital by 5,349.6% in the 1st quarter. Jones Financial Companies Lllp now owns 93,461 shares of the investment management company’s stock valued at $749,000 after buying an additional 91,746 shares during the last quarter. Creative Planning bought a new stake in Blackrock Tcp Capital in the second quarter worth about $85,000. XTX Topco Ltd purchased a new position in Blackrock Tcp Capital in the second quarter valued at about $166,000. Marshall Wace LLP bought a new position in shares of Blackrock Tcp Capital during the 2nd quarter valued at approximately $4,045,000. Finally, Raymond James Financial Inc. grew its position in shares of Blackrock Tcp Capital by 7.7% during the 2nd quarter. Raymond James Financial Inc. now owns 90,675 shares of the investment management company’s stock valued at $698,000 after acquiring an additional 6,509 shares during the period.

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.