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

Trinity Capital Inc. (NASDAQ:TRIN) declared a quarterly dividend on Friday, December 13th,Wall Street Journal reports. Shareholders 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 annualized dividend and a 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. 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 Up 1.7 %

Shares of TRIN stock traded up $0.24 during trading hours on Friday, reaching $14.60. 635,781 shares of the company’s stock were exchanged, compared to its average volume of 492,356. The stock has a market cap of $860.09 million, a PE ratio of 8.40 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’s fifty day moving average price is $14.02 and its two-hundred day moving average price is $14.20. Trinity Capital has a 1 year low of $13.05 and a 1 year high of $15.44.

Analyst Upgrades and Downgrades

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

Insider Activity at Trinity Capital

In other Trinity Capital news, CEO Kyle Steven Brown purchased 7,562 shares of the company’s stock in a transaction on Friday, November 1st. The stock was acquired at an average price of $13.39 per share, for a total transaction of $101,255.18. Following the completion of the purchase, the chief executive officer now directly owns 964,832 shares in the company, valued at approximately $12,919,100.48. The trade was a 0.79 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ronald E. Estes acquired 2,000 shares of Trinity Capital stock in a transaction dated Friday, November 1st. The stock was bought at an average price of $13.59 per share, for a total transaction of $27,180.00. Following the completion of the purchase, the director now owns 25,836 shares of the company’s stock, valued at approximately $351,111.24. This represents a 8.39 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 29,702 shares of company stock worth $392,696. Company insiders own 6.38% of the company’s stock.

About Trinity Capital

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.