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.
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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