TCG BDC Inc (NASDAQ:CGBD) declared a quarterly dividend on Monday, May 6th, Zacks reports. Stockholders of record on Friday, June 28th will be paid a dividend of 0.37 per share on Wednesday, July 17th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 9.55%. The ex-dividend date of this dividend is Thursday, June 27th.
TCG BDC has a payout ratio of 89.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect TCG BDC to earn $1.80 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 82.2%.
CGBD stock traded down $0.02 on Tuesday, hitting $15.49. 10,124 shares of the company’s stock were exchanged, compared to its average volume of 393,016. TCG BDC has a 12-month low of $12.19 and a 12-month high of $18.00. The stock’s 50 day simple moving average is $14.99. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $940.06 million, a PE ratio of 8.89, a P/E/G ratio of 4.35 and a beta of 0.89.
Several brokerages recently weighed in on CGBD. Zacks Investment Research upgraded TCG BDC from a “sell” rating to a “hold” rating in a research note on Monday, May 13th. ValuEngine downgraded TCG BDC from a “hold” rating to a “sell” rating in a research note on Monday, April 1st. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $16.13.
About TCG BDC
TCG BDC, Inc is a non-diversified closed-end investment company. The fund operates as a business development company. The company provides debt investments in the U.S. middle market companies. It also invests in first lien and second lien senior secured loans; middle market junior loans, such as corporate mezzanine loans, equity co-investments, syndicated first lien and second lien senior secured loans, high-yield bonds, structured finance obligations, and other opportunistic investments.
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