TCG BDC Inc (NASDAQ:CGBD) announced a quarterly dividend on Monday, May 6th, Zacks reports. Investors of record on Friday, June 28th will be paid a dividend of 0.37 per share on Wednesday, July 17th. This represents a $1.48 annualized dividend and a yield of 9.55%. The ex-dividend date is Thursday, June 27th.
TCG BDC has a dividend payout ratio of 89.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect TCG BDC to earn $1.80 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 82.2%.
NASDAQ:CGBD traded down $0.01 during midday trading on Tuesday, hitting $15.50. 880 shares of the company were exchanged, compared to its average volume of 393,016. The stock has a fifty day moving average of $14.99. TCG BDC has a fifty-two week low of $12.19 and a fifty-two week high of $18.00. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $940.06 million, a P/E ratio of 8.94, a PEG ratio of 4.35 and a beta of 0.89.
TCG BDC (NASDAQ:CGBD) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.02. TCG BDC had a net margin of 24.05% and a return on equity of 10.19%. The company had revenue of $55.19 million for the quarter, compared to the consensus estimate of $56.70 million. During the same period last year, the firm posted ($0.02) EPS. On average, equities analysts anticipate that TCG BDC will post 1.76 earnings per share for the current fiscal year.
Several research analysts have issued reports on the stock. Zacks Investment Research raised shares of TCG BDC from a “sell” rating to a “hold” rating in a research report on Monday, May 13th. ValuEngine downgraded shares of TCG BDC from a “hold” rating to a “sell” rating in a research report on Monday, April 1st. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. TCG BDC presently has a consensus rating of “Hold” and a consensus target price of $16.13.
TCG BDC Company Profile
TCG BDC, Inc is a non-diversified closed-end investment company. The fund operates as a business development company. The company provides debt investments in the U.S. middle market companies. It also invests in first lien and second lien senior secured loans; middle market junior loans, such as corporate mezzanine loans, equity co-investments, syndicated first lien and second lien senior secured loans, high-yield bonds, structured finance obligations, and other opportunistic investments.
Read More: Balanced Fund
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