BlackRock TCP Capital Corp (TCPC) to Issue Quarterly Dividend of $0.36

BlackRock TCP Capital Corp (NASDAQ:TCPC) declared a quarterly dividend on Wednesday, May 8th, Zacks reports. Stockholders of record on Friday, June 14th will be paid a dividend of 0.36 per share by the investment management company on Friday, June 28th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 10.09%. The ex-dividend date of this dividend is Thursday, June 13th.

BlackRock TCP Capital has a payout ratio of 91.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect BlackRock TCP Capital to earn $1.64 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 87.8%.

Shares of NASDAQ:TCPC opened at $14.27 on Friday. The firm has a market cap of $838.59 million, a P/E ratio of 8.97, a P/E/G ratio of 3.00 and a beta of 0.80. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.75 and a quick ratio of 3.75. BlackRock TCP Capital has a 12-month low of $12.52 and a 12-month high of $14.98.

BlackRock TCP Capital (NASDAQ:TCPC) last issued its quarterly earnings results on Thursday, February 28th. The investment management company reported $0.40 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.40. BlackRock TCP Capital had a return on equity of 11.27% and a net margin of 21.88%. The firm had revenue of $48.38 million during the quarter, compared to the consensus estimate of $49.43 million. Analysts expect that BlackRock TCP Capital will post 1.61 earnings per share for the current fiscal year.

Several equities analysts recently weighed in on TCPC shares. BidaskClub raised shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, May 21st. TheStreet raised shares of BlackRock TCP Capital from a “c+” rating to a “b” rating in a research report on Tuesday. National Securities reaffirmed a “buy” rating and issued a $18.00 price target on shares of BlackRock TCP Capital in a research report on Monday, May 13th. Finally, Zacks Investment Research raised shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, May 14th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $16.50.

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BlackRock TCP Capital Company Profile

BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It seeks to invest in the United States.

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Dividend History for BlackRock TCP Capital (NASDAQ:TCPC)

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