BlackRock TCP Capital Corp.
TCPCFinancial Services · Stock · quarterly payer
Forward Yield
25.38%
Annual Dividend
$0.84
Payout Ratio
378%
5-Yr Growth
-3.2%
Ex-Date
Jun 16, 2026
Frequency
Quarterly
Summary
As of July 2026, BlackRock TCP Capital Corp. (TCPC) yields 25.38% ($0.84 per share annually), with a blended fair-value estimate of $10.33 — +212% upside, so it screens as undervalued. Dividend safety grade: D (38/100).
Is TCPC a good dividend stock?
Higher riskBlackRock TCP Capital Corp. (TCPC) pays a quarterly dividend yielding 25.38% ($0.84/yr), with 0 years of growth and a dividend-safety grade of D. Treat the dividend with caution — recent cuts, a stretched payout or a falling price raise the risk.
Advantages
Risks
- Cut its dividend in 2025
- Elevated payout ratio (378%)
- Dividend has been shrinking, not growing
- Very high yield can signal elevated risk
- Share price is down over the past 5 years
- Below-average dividend safety score
Key Data
- Dividend Yield
- 25.38%
- Payout Ratio
- 378%
- Annual Dividend
- $0.84
- 5-Yr Avg Growth
- -3.2%
- Ex-Dividend Date
- Jun 16, 2026
- Years of Growth
- 0
- Frequency
- quarterly
- Beta
- 1.01
- Market Cap
- $277.7M
- P/E Ratio
- —
- 5-Yr Total Return
- -77%
- 52-Week Range
- $3.08 – $7.76
- Dividend Safety
- D · 38/100
- Ever Cut?
- Yes (2025)
Frequently Asked Questions
TCPC Price — Last 12 Months
Daily close
Price Return
1 Year
-54%
3 Years
-73%
5 Years
-77%
52-Week Range
$3.08 – $7.76
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is TCPC worth?
Undervaluedlow confidenceOur blended fair-value estimate for BlackRock TCP Capital Corp. is $10.33 per share, versus a market price of $3.31. That implies 212% of upside — a margin of safety of about 68%.
Fair Value
$10.33
Current Price
$3.31
Upside
+212%
Margin of Safety
68%
How we get there
Dividend discount
Discounts the future dividend stream back to today.
At today's price, the market is pricing in about -10.0% annual free-cash-flow growth. We model -5.0% — below our estimate, leaving room for upside if the business executes.
Assumptions: 9.3% discount rate (CAPM), -5.0% stage-1 growth, 2.5% terminal growth, -$1.49 EPS, $0.84 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
TCPC Dividend Safety Score
Risky
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Jun 16, 2026 | — | $0.1700 | regular |
| Mar 17, 2026 | — | $0.1700 | regular |
| Dec 17, 2025 | — | $0.2500 | regular |
| Sep 16, 2025 | — | $0.2900 | regular |
| Jun 16, 2025 | — | $0.2900 | regular |
| Mar 17, 2025 | — | $0.2900 | regular |
| Dec 17, 2024 | — | $0.4400 | regular |
| Sep 16, 2024 | — | $0.3400 | regular |
| Jun 14, 2024 | — | $0.3400 | regular |
| Mar 13, 2024 | — | $0.3400 | regular |
| Dec 14, 2023 | — | $0.5900 | regular |
| Sep 14, 2023 | — | $0.4400 | regular |
| Jun 15, 2023 | — | $0.3400 | regular |
| Mar 16, 2023 | — | $0.3200 | regular |
Income Calculator
At $0.84 / yr per share
