TCP Capital Corp (TCPC) to Issue Quarterly Dividend of $0.36

TCP Capital Corp (NASDAQ:TCPC) announced a quarterly dividend on Tuesday, February 27th, Zacks reports. Stockholders of record on Friday, March 16th will be paid a dividend of 0.36 per share by the investment management company on Friday, March 30th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 10.10%. The ex-dividend date is Thursday, March 15th.

Shares of NASDAQ:TCPC traded up $0.07 during trading on Thursday, reaching $14.26. The company had a trading volume of 169,800 shares, compared to its average volume of 263,360. The firm has a market cap of $833.87, a P/E ratio of 7.17, a P/E/G ratio of 1.80 and a beta of 0.67. TCP Capital has a twelve month low of $13.72 and a twelve month high of $17.45. The company has a current ratio of 5.56, a quick ratio of 5.56 and a debt-to-equity ratio of 0.83.

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TCP Capital (NASDAQ:TCPC) last released its earnings results on Tuesday, February 27th. The investment management company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.12. TCP Capital had a net margin of 42.13% and a return on equity of 12.63%. The business had revenue of $47.11 million for the quarter, compared to the consensus estimate of $44.77 million. equities research analysts forecast that TCP Capital will post 1.57 EPS for the current year.

TCPC has been the topic of a number of research reports. ValuEngine upgraded shares of TCP Capital from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. BidaskClub downgraded shares of TCP Capital from a “sell” rating to a “strong sell” rating in a report on Friday, February 23rd. Wells Fargo cut their price target on shares of TCP Capital from $17.25 to $17.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. National Securities restated a “buy” rating and set a $19.00 price target on shares of TCP Capital in a report on Wednesday, February 28th. Finally, JMP Securities cut their price target on shares of TCP Capital from $17.50 to $17.00 and set a “market outperform” rating on the stock in a report on Thursday, March 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company’s stock. TCP Capital has a consensus rating of “Buy” and an average target price of $17.67.

TCP Capital announced that its board has approved a share repurchase program on Tuesday, February 27th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the investment management company to purchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

In related news, COO Rajneesh Vig acquired 5,000 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were purchased at an average cost of $15.06 per share, with a total value of $75,300.00. Following the completion of the transaction, the chief operating officer now owns 32,750 shares of the company’s stock, valued at approximately $493,215. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kathleen A. Corbet acquired 2,500 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were bought at an average cost of $15.22 per share, for a total transaction of $38,050.00. Following the completion of the transaction, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $380,500. The disclosure for this purchase can be found here. Insiders have bought 26,400 shares of company stock worth $393,692 in the last 90 days. 0.56% of the stock is owned by company insiders.

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About TCP Capital

TCP Capital Corp. is an externally managed, closed-end, non-diversified management investment company. The Company’s investment objective is to achieve high total returns through current income and capital appreciation, with an emphasis on principal protection. It invests in the debt of middle-market companies, as well as small businesses, including senior secured loans, junior loans, mezzanine debt and bonds.

Dividend History for TCP Capital (NASDAQ:TCPC)

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