BlackRock TCP Capital Corp (NASDAQ:TCPC) announced 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 annualized dividend and a dividend yield of 9.82%. The ex-dividend date is Thursday, June 13th.
BlackRock TCP Capital has a dividend payout ratio of 91.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities 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 BlackRock TCP Capital stock opened at $14.66 on Wednesday. BlackRock TCP Capital has a 1 year low of $12.52 and a 1 year high of $14.98. The firm has a market cap of $861.51 million, a PE ratio of 9.22, a price-to-earnings-growth ratio of 3.03 and a beta of 0.75. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.97.
A number of research analysts have recently issued reports on TCPC shares. TheStreet raised BlackRock TCP Capital from a “c+” rating to a “b” rating in a report on Tuesday, May 28th. BidaskClub raised BlackRock TCP Capital from a “sell” rating to a “hold” rating in a report on Monday, March 11th. National Securities lowered their target price on BlackRock TCP Capital from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Monday, March 4th. Finally, Zacks Investment Research downgraded BlackRock TCP Capital from a “hold” rating to a “sell” rating in a report on Tuesday, March 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $16.50.
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About BlackRock TCP Capital
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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