Blackrock Capital Investment Corp (NASDAQ:BKCC) announced a quarterly dividend on Wednesday, May 1st, Zacks reports. Shareholders of record on Tuesday, June 18th will be paid a dividend of 0.18 per share by the asset manager on Tuesday, July 9th. This represents a $0.72 dividend on an annualized basis and a yield of 11.58%. The ex-dividend date of this dividend is Monday, June 17th.
Blackrock Capital Investment has decreased its dividend payment by an average of 5.0% per year over the last three years. Blackrock Capital Investment has a payout ratio of 110.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Blackrock Capital Investment to earn $0.72 per share next year, which means the company may not be able to cover its $0.72 annual dividend with an expected future payout ratio of 100.0%.
Shares of NASDAQ:BKCC traded down $0.01 during midday trading on Wednesday, reaching $6.22. 2,801 shares of the company’s stock were exchanged, compared to its average volume of 297,225. The company has a market capitalization of $430.23 million, a price-to-earnings ratio of 9.72, a PEG ratio of 9.63 and a beta of 0.78. Blackrock Capital Investment has a 12 month low of $5.06 and a 12 month high of $6.64. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.99 and a current ratio of 1.99.
In other Blackrock Capital Investment news, CFO Michael Pungello acquired 4,000 shares of Blackrock Capital Investment stock in a transaction dated Tuesday, May 7th. The stock was bought at an average cost of $6.27 per share, with a total value of $25,080.00. Following the acquisition, the chief financial officer now owns 13,083 shares of the company’s stock, valued at $82,030.41. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by company insiders.
An institutional investor recently raised its position in Blackrock Capital Investment stock. Geode Capital Management LLC increased its position in shares of Blackrock Capital Investment Corp (NASDAQ:BKCC) by 66.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,927 shares of the asset manager’s stock after purchasing an additional 11,564 shares during the quarter. Geode Capital Management LLC’s holdings in Blackrock Capital Investment were worth $153,000 at the end of the most recent quarter. Institutional investors own 31.27% of the company’s stock.
A number of research firms have recently commented on BKCC. BidaskClub raised shares of Blackrock Capital Investment from a “sell” rating to a “hold” rating in a report on Wednesday, June 5th. Zacks Investment Research downgraded shares of Blackrock Capital Investment from a “hold” rating to a “sell” rating in a report on Tuesday, May 7th. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Blackrock Capital Investment presently has a consensus rating of “Hold” and a consensus price target of $6.00.
Blackrock Capital Investment Company Profile
BlackRock Capital Investment Corporation, formerly known as BlackRock Kelso Capital Corporation, is a Business Development Company specializing in investments in middle market companies. The fund invests in all industries. It prefers to invest between $10 million and $50 million and can invest more or less in companies with EBITDA or operating cash flow between $10 million and $50 million.
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