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

BlackRock TCP Capital Corp. (NASDAQ:TCPC) announced a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Shareholders of record on Monday, March 17th will be paid 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 yield of 12.38%. The ex-dividend date of this dividend is Monday, March 17th.

BlackRock TCP Capital has raised its dividend by an average of 4.3% per year over the last three years. BlackRock TCP Capital has a dividend payout ratio of 85.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. 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 $1.00 annual dividend with an expected future payout ratio of 70.4%.

BlackRock TCP Capital Stock Up 1.5 %

Shares of NASDAQ TCPC opened at $8.08 on Friday. The company has a current ratio of 39.37, a quick ratio of 39.37 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $687.42 million, a PE ratio of -16.16 and a beta of 1.55. BlackRock TCP Capital has a 12-month low of $7.71 and a 12-month high of $11.52. The stock’s fifty day simple moving average is $8.86 and its two-hundred day simple moving average is $8.75.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TCPC. StockNews.com cut BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research report on Tuesday, March 4th. Keefe, Bruyette & Woods lowered their price objective on BlackRock TCP Capital from $9.00 to $8.50 and set a “market perform” rating for the company in a research report on Friday, February 28th. Finally, Wells Fargo & Company lowered their price objective on BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating for the company in a research report on Friday, February 28th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $8.67.

BlackRock TCP Capital Company Profile

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.