Quarterly ResultMay 7, 2026, 09:27 AM
BlackRock TCP Capital Q1 NII $0.22/share; NAV $6.72; Q2 Dividend $0.17
AI Summary
BlackRock TCP Capital Corp. announced its first quarter 2026 financial results, reporting net investment income of $0.22 per share, which surpassed the regular dividend of $0.17 per share. However, net asset value per share declined to $6.72 from $7.07, partially due to $35 million in net portfolio markdowns. The company also declared a second quarter dividend of $0.17 per share and highlighted improvements in credit quality, a reduction in non-accrual investments, and lower net regulatory leverage.
Key Highlights
- Q1 2026 Net Investment Income was $0.22 per share, exceeding the regular dividend of $0.17 per share.
- Net Asset Value per share was $6.72 as of March 31, 2026, down from $7.07 as of December 31, 2025.
- The Board of Directors declared a second quarter dividend of $0.17 per share.
- Non-accrual investments decreased to 2.8% of the portfolio at fair value from 4.0% in Q4 2025.
- Net regulatory leverage declined to 1.29x as of March 31, 2026, from 1.41x in Q4 2025.
- Net decrease in net assets from operations was $16.3 million, or $0.19 per share.
- The stock repurchase plan was re-approved to acquire up to $50.0 million of common stock.
- The company repurchased 505,433 shares for $2.28 million in Q1 2026 at a weighted-average price of $4.51.