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

BlackRock TCP Capital Corp. (NASDAQ:TCPC) announced a quarterly dividend on Friday, February 28th, Wall Street Journal reports. Stockholders 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 dividend yield of 11.85%. The ex-dividend date of this dividend is Monday, March 17th.

BlackRock TCP Capital has increased its dividend payment by an average of 4.3% annually over the last three years. BlackRock TCP Capital has a dividend payout ratio of 116.2% meaning 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 TCP Capital to earn $1.42 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 95.8%.

BlackRock TCP Capital Price Performance

BlackRock TCP Capital stock remained flat at $8.44 during mid-day trading on Friday. 1,420,303 shares of the company’s stock traded hands, compared to its average volume of 553,616. The company has a debt-to-equity ratio of 1.34, a quick ratio of 39.37 and a current ratio of 39.37. BlackRock TCP Capital has a one year low of $7.71 and a one year high of $11.52. The business has a 50-day moving average of $8.97 and a two-hundred day moving average of $8.81. The stock has a market cap of $722.39 million, a PE ratio of -16.88 and a beta of 1.50.

Analyst Ratings Changes

A number of research firms recently commented on TCPC. Keefe, Bruyette & Woods dropped their target price on shares of BlackRock TCP Capital from $9.00 to $8.50 and set a “market perform” rating on the stock in a research report on Friday. Wells Fargo & Company dropped their price objective on BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating on the stock in a report on Friday. Finally, StockNews.com raised BlackRock TCP Capital from a “sell” rating to a “hold” rating in a report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $8.67.

About BlackRock TCP Capital

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.