Trinity Capital Inc. Announces Quarterly Dividend of $0.51 (NASDAQ:TRIN)

Trinity Capital Inc. (NASDAQ:TRIN) announced a quarterly dividend on Thursday, December 12th,Wall Street Journal reports. Shareholders of record on Tuesday, December 31st will be given a dividend of 0.51 per share on Wednesday, January 15th. This represents a $2.04 annualized dividend and a yield of 13.79%. The ex-dividend date is Tuesday, December 31st.

Trinity Capital has a dividend payout ratio of 98.6% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Trinity Capital to earn $2.11 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 96.7%.

Trinity Capital Stock Down 0.5 %

TRIN opened at $14.79 on Friday. The company has a market cap of $871.22 million, a P/E ratio of 8.65 and a beta of 0.56. Trinity Capital has a 12 month low of $13.05 and a 12 month high of $15.26. The business’s 50-day moving average price is $14.19 and its 200-day moving average price is $14.18. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.07.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company reiterated an “underweight” rating and issued a $13.00 price objective on shares of Trinity Capital in a research report on Monday, December 2nd.

Insider Buying and Selling at Trinity Capital

In other Trinity Capital news, Chairman Steve Louis Brown acquired 19,350 shares of the company’s stock in a transaction on Monday, November 4th. The stock was acquired at an average price of $13.12 per share, for a total transaction of $253,872.00. Following the acquisition, the chairman now owns 722,182 shares in the company, valued at $9,475,027.84. This represents a 2.75 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ronald E. Estes bought 2,000 shares of Trinity Capital stock in a transaction dated Friday, November 1st. The shares were acquired at an average cost of $13.59 per share, for a total transaction of $27,180.00. Following the completion of the purchase, the director now directly owns 25,836 shares of the company’s stock, valued at approximately $351,111.24. This trade represents a 8.39 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 29,702 shares of company stock worth $392,696. 6.38% of the stock is currently owned by company insiders.

About Trinity Capital

Trinity Capital Inc is a business development company. It is a venture capital firm specializing in venture debt to growth stage companies looking for loans and/or equipment financing. Trinity Capital Inc was founded in 2019 is based in Phoenix, Arizona with additional offices in the United States.