TCG BDC Inc to Issue Quarterly Dividend of $0.37 (NASDAQ:CGBD)

TCG BDC Inc (NASDAQ:CGBD) declared a quarterly dividend on Monday, August 5th, Zacks reports. Stockholders of record on Monday, September 30th will be given a dividend of 0.37 per share on Thursday, October 17th. This represents a $1.48 annualized dividend and a dividend yield of 9.97%. The ex-dividend date is Friday, September 27th.

TCG BDC has a dividend payout ratio of 89.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect TCG BDC to earn $1.78 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 83.1%.

Shares of NASDAQ CGBD traded down $0.03 during midday trading on Wednesday, hitting $14.85. The company’s stock had a trading volume of 190,250 shares, compared to its average volume of 338,650. The business’s fifty day simple moving average is $14.37 and its two-hundred day simple moving average is $14.84. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.23 and a quick ratio of 1.23. TCG BDC has a 1 year low of $12.19 and a 1 year high of $17.17. The firm has a market capitalization of $886.24 million, a price-to-earnings ratio of 8.58, a price-to-earnings-growth ratio of 4.20 and a beta of 0.93.

TCG BDC (NASDAQ:CGBD) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.02. TCG BDC had a net margin of 22.04% and a return on equity of 10.40%. The business had revenue of $56.87 million during the quarter, compared to analyst estimates of $57.06 million. During the same quarter last year, the firm posted $0.45 earnings per share. Analysts anticipate that TCG BDC will post 1.77 EPS for the current fiscal year.

CGBD has been the subject of several recent research reports. ValuEngine lowered shares of TCG BDC from a “hold” rating to a “sell” rating in a research note on Tuesday, August 6th. Keefe, Bruyette & Woods lowered shares of TCG BDC from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $16.00 to $15.00 in a research note on Thursday, September 5th. Finally, Zacks Investment Research lowered shares of TCG BDC from a “hold” rating to a “sell” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $15.88.

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.

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Dividend History for TCG BDC (NASDAQ:CGBD)

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