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

BlackRock TCP Capital Corp. (NASDAQ:TCPC - Get Free Report) announced a quarterly dividend on Friday, February 28th, Wall Street Journal reports. Investors of record on Monday, March 17th will be given 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 12.17%. The ex-dividend date is Monday, March 17th.

BlackRock TCP Capital has raised its dividend payment by an average of 4.3% per year over the last three years. BlackRock TCP Capital has a payout ratio of 85.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings decline. Equities 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 Performance

Shares of BlackRock TCP Capital stock traded down $0.22 during trading hours on Monday, reaching $8.22. The company's stock had a trading volume of 1,113,846 shares, compared to its average volume of 567,681. BlackRock TCP Capital has a one year low of $7.71 and a one year high of $11.52. The company's 50 day simple moving average is $8.97 and its 200 day simple moving average is $8.81. 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 stock has a market cap of $703.56 million, a P/E ratio of -16.44 and a beta of 1.50.

Wall Street Analysts Forecast Growth

TCPC has been the subject of several recent research reports. Keefe, Bruyette & Woods lowered their target price on BlackRock TCP Capital from $9.00 to $8.50 and set a "market perform" rating for the company in a report on Friday. Wells Fargo & Company dropped their target price on BlackRock TCP Capital from $8.00 to $7.50 and set an "underweight" rating on the stock in a research report on Friday. Finally, StockNews.com upgraded BlackRock TCP Capital from a "sell" rating to a "hold" rating in a research note on Monday, November 18th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat.com, BlackRock TCP Capital 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.