Trinity Capital Inc. (NASDAQ:TRIN) to Issue $0.51 Quarterly Dividend

Trinity Capital Inc. (NASDAQ:TRIN) announced a quarterly dividend on Friday, December 13th,Wall Street Journal reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 13.97%. The ex-dividend date of this dividend is Tuesday, December 31st.

Trinity Capital has a 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 fall. 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 Performance

TRIN stock opened at $14.60 on Friday. The firm has a market cap of $860.09 million, a PE ratio of 8.54 and a beta of 0.56. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.07. The stock has a 50-day moving average price of $14.04 and a 200-day moving average price of $14.20. Trinity Capital has a 1-year low of $13.05 and a 1-year high of $15.44.

Insider Activity at Trinity Capital

In other Trinity Capital news, Chairman Steve Louis Brown purchased 19,350 shares of the stock in a transaction dated Monday, November 4th. The shares were bought at an average price of $13.12 per share, with a total value of $253,872.00. Following the completion of the transaction, the chairman now directly owns 722,182 shares in the company, valued at approximately $9,475,027.84. This trade represents a 2.75 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kyle Steven Brown bought 7,562 shares of the stock in a transaction on Friday, November 1st. The shares were acquired at an average cost of $13.39 per share, for a total transaction of $101,255.18. Following the acquisition, the chief executive officer now directly owns 964,832 shares in the company, valued at approximately $12,919,100.48. This trade represents a 0.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 29,702 shares of company stock valued at $392,696. 6.38% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, Wells Fargo & Company reaffirmed an “underweight” rating and set a $13.00 price target on shares of Trinity Capital in a research note on Monday, December 2nd.

Trinity Capital Company Profile

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.