TCP Capital (TCPC) Declares $0.34 Dividend
TCP Capital said on May 4, 2023 that its board of directors declared a regular quarterly dividend of $0.34 per share ($1.36 annualized). Previously, the company paid $0.32 per share.
Shares must be purchased before the ex-div date of June 15, 2023 to qualify for the dividend. Shareholders of record as of June 16, 2023 will receive the payment on June 30, 2023.
At the current share price of $10.35 / share, the stock's dividend yield is 13.14%.
Looking back five years and taking a sample every week, the average dividend yield has been 10.88%, the lowest has been 8.03%, and the highest has been 27.80%. The standard deviation of yields is 2.79 (n=196).
The current dividend yield is 0.81 standard deviations above the historical average.
The company's 3-Year dividend growth rate is -0.11%.
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What is the Fund Sentiment?
There are 147 funds or institutions reporting positions in TCP Capital. This is a decrease of 1 owner(s) or 0.68% in the last quarter. Average portfolio weight of all funds dedicated to TCPC is 0.16%, a decrease of 18.85%. Total shares owned by institutions decreased in the last three months by 0.02% to 16,664K shares. 
The put/call ratio of TCPC is 0.60, indicating a bullish outlook.
Analyst Price Forecast Suggests 24.60% Upside
As of April 24, 2023, the average one-year price target for TCP Capital is 12.90. The forecasts range from a low of 10.10 to a high of $15.22. The average price target represents an increase of 24.60% from its latest reported closing price of 10.35.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for TCP Capital is 196MM, an increase of 8.34%. The projected annual non-GAAP EPS is 1.63.
What are Other Shareholders Doing?
Barings holds 1,603K shares. No change in the last quarter.
Cliffwater holds 1,279K shares. No change in the last quarter.
Millennium Management holds 1,077K shares. In it's prior filing, the firm reported owning 738K shares, representing an increase of 31.43%. The firm increased its portfolio allocation in TCPC by 61.53% over the last quarter.
Van Eck Associates holds 840K shares. In it's prior filing, the firm reported owning 785K shares, representing an increase of 6.48%. The firm decreased its portfolio allocation in TCPC by 25.00% over the last quarter.
BIZD - VanEck Vectors BDC Income ETF holds 795K shares. In it's prior filing, the firm reported owning 774K shares, representing an increase of 2.58%. The firm increased its portfolio allocation in TCPC by 2.11% over the last quarter.
BlackRock TCP Capital Background Information
(This description is provided by the company.)
BlackRock TCP Capital Corp. is a specialty nance company focused on direct lending to middle- market companies as well as small businesses. TCPC lends primarily to companies with established market positions, strong regional or national operations, dierentiated products and services and sustainable competitive advantages, investing across industries in which it has signiPcant knowledge and expertise. TCPC's investment objective is to achieve high total returns through current income and capital appreciation, with an emphasis on principal protection. TCPC is a publicly-traded business development company, or BDC, regulated under the Investment Company Act of 1940 and is externally managed by its advisor, Tennenbaum Capital Partners, LLC, a wholly-owned, indirect subsidiary of BlackRock, Inc.
This story originally appeared on Fintel.