BlackRock TCP Capital Corp. (TCPC) To Go Ex-Dividend on March 17th

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 dividend on an annualized basis and a yield of 12.38%. The ex-dividend date is Monday, March 17th.

BlackRock TCP Capital has increased its dividend payment 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 Trading Up 1.5 %

Shares of NASDAQ TCPC opened at $8.08 on Friday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 39.37 and a current ratio of 39.37. The business’s 50 day moving average price is $8.86 and its 200-day moving average price is $8.75. BlackRock TCP Capital has a fifty-two week low of $7.71 and a fifty-two week high of $11.52. The company has a market cap of $687.42 million, a price-to-earnings ratio of -16.16 and a beta of 1.55.

Wall Street Analyst Weigh In

TCPC has been the topic of several recent analyst reports. Wells Fargo & Company reduced their price target on BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating on the stock in a report on Friday, February 28th. Keefe, Bruyette & Woods dropped their price objective on BlackRock TCP Capital from $9.00 to $8.50 and set a “market perform” rating on the stock in a research note on Friday, February 28th. Finally, StockNews.com cut BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research note on Tuesday, March 4th. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat.com, the company currently has an average 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.