BlackRock TCP Capital (TCPC) Tops Q4 EPS by 13c

BlackRock TCP Capital (NASDAQ: TCPC) reported Q4 EPS of $0.52, $0.13 better than the analyst estimate of $0.39.

FINANCIAL HIGHLIGHTS

• Net investment income for the quarter ended December 31, 2019 was $22.4 million, or $0.38 per share on a diluted basis, exceeding the dividend of $0.36 per share.
• Net decrease in net assets resulting from operations for the quarter ended December 31, 2019 was $1.2 million, or $0.02 per share.
• Net asset value per share at December 31, 2019 was $13.21 compared to $13.59 at September 30, 2019.
• Total acquisitions during the quarter ended December 31, 2019 were $141.6 million and total dispositions were $152.3 million.
• On November 26, 2019, the Company issued an additional $50.0 million of unsecured notes that mature on August 23, 2024 (the \"2024 Notes\"). The 2024 Notes bear interest at an annual rate of 3.90%, payable semi-annually, and all principal is due upon maturity.
• On January 31, 2020, Fitch Ratings initiated an investment grade rating of BBB-, with stable outlook. The Company continues to be investment grade rated by both Moody\'s Investor Service and S&P Global Ratings.
• On February 26, 2020, our board of directors declared a first quarter dividend of $0.36 per share payable on March 31, 2020 to shareholders of record as of March 17, 2020.

"We generated solid net investment income in the fourth quarter of 2019, covering our dividend for the 31st consecutive quarter," said Howard Levkowitz, BlackRock TCP Capital Corp. Chairman and CEO. "We have a strong pipeline of new investment opportunities and we will continue to take a selective approach to our investments in the current environment. Originations in the fourth quarter totaled $142 million, 40% of which were loans to repeat borrowers with whom we have existing relationships with management and deep knowledge of the industry and business."

For earnings history and earnings-related data on BlackRock TCP Capital (TCPC) click here.

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