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

BlackRock TCP Capital Corp. (NASDAQ:TCPC) announced a quarterly dividend on Friday, February 28th, Wall Street Journal reports. Investors 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 dividend yield of 11.85%. The ex-dividend date of this dividend 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 dividend payout ratio of 116.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 $1.36 annual dividend with an expected future payout ratio of 95.8%.

BlackRock TCP Capital Stock Performance

BlackRock TCP Capital stock opened at $8.44 on Friday. The stock has a 50-day moving average of $8.97 and a two-hundred day moving average of $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. BlackRock TCP Capital has a one year low of $7.71 and a one year high of $11.52. The stock has a market cap of $722.39 million, a PE ratio of -16.88 and a beta of 1.50.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Keefe, Bruyette & Woods decreased their price target on BlackRock TCP Capital from $9.00 to $8.50 and set a “market perform” rating for the company in a research note on Friday. Wells Fargo & Company decreased their price target on BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating for the company in a research note 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 equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat, BlackRock TCP Capital has a consensus rating of “Hold” and a consensus price target 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.