- BlackRock TCP Capital Corp. (TCPC, Financial) reports net investment income of $0.38 per share for Q1 2025.
- A regular dividend of $0.25 per share and a special dividend of $0.04 per share declared.
- Net asset value per share slightly decreased to $9.18, from $9.23 at the end of 2024.
BlackRock TCP Capital Corp. (TCPC), a business development company, has announced its financial results for the first quarter ending March 31, 2025. The company reported a net investment income of $32.2 million, equating to $0.38 per share on a diluted basis, outpacing the regular dividend of $0.25 and the special dividend of $0.04 per share.
As of March 31, 2025, the net asset value (NAV) per share was reported at $9.18, a slight decrease from $9.23 at the end of December 2024. The company experienced a net increase in net assets from operations of $20.9 million, or $0.25 per share, a significant improvement compared to the net decrease of $38.6 million, or $0.45 per share, in the previous quarter.
Total investment acquisitions for the quarter were approximately $66.0 million, with dispositions amounting to $84.9 million. The company's net leverage decreased marginally to 1.13x from 1.14x at the end of 2024. Debt investments on non-accrual status represented 4.4% of the portfolio at fair value, a decrease from 5.6% in the previous quarter.
During the first quarter, BlackRock TCP Capital made new investments totaling $66.0 million, primarily in senior secured loans. The board of directors declared a second-quarter regular dividend of $0.25 per share and a special dividend of $0.04 per share, both payable on June 30, 2025, to shareholders on record as of June 16, 2025.
In terms of liquidity, as of March 31, 2025, the available liquidity was approximately $628.9 million, including $530.0 million in available capacity under its leverage program and $99.1 million in cash and cash equivalents. The conference call for discussing these financial results is scheduled for May 8, 2025.
