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

BlackRock TCP Capital Corp. (NASDAQ:TCPC) announced a quarterly dividend on Friday, February 28th, Wall Street Journal reports. Stockholders of record on Monday, March 17th will be given 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 dividend yield of 11.85%. The ex-dividend date of this dividend is Monday, March 17th.

BlackRock TCP Capital has raised its dividend payment by an average of 4.3% annually over the last three years. BlackRock TCP Capital has a dividend payout ratio of 116.2% meaning 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

NASDAQ:TCPC remained flat at $8.44 on Friday. The company’s stock had a trading volume of 1,420,303 shares, compared to its average volume of 553,616. BlackRock TCP Capital has a 12 month low of $7.71 and a 12 month high of $11.52. The company has a 50-day moving average of $8.97 and a 200 day moving average of $8.81. The firm has a market capitalization of $722.39 million, a price-to-earnings ratio of -16.88 and a beta of 1.50. The company has a current ratio of 39.37, a quick ratio of 39.37 and a debt-to-equity ratio of 1.34.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of BlackRock TCP Capital from $9.00 to $8.50 and set a “market perform” rating on the stock in a report on Friday. StockNews.com upgraded BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research report on Monday, November 18th. Finally, Wells Fargo & Company cut their price objective on BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating on the stock in a report on Friday. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $8.67.

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.