TCPC Dividend Yield & Coverage Update
BlackRock TCP Capital Corp (TCPC) has a higher yield due to its previous net asset value ("NAV") declines (discussed later) driving lower stock prices coupled with paying a higher dividend relative to its NAV as shown below:
TCPC consistently over earns its dividend, growing its undistributed taxable income to almost $39 million spillover or $0.66 per share.
We generated net investment income in the second quarter of $0.41 per share again exceeding our dividend of $0.36 per share. This extends our more than seven-year record of covering