TCPC Q4 NII $0.40/shr covers dividend; NAV falls to $12.93 from $14.36; net loss $47.8M

BlackRock TCP Capital Corp.

2022-FY EPS reported -$0.16

Net investment income $23.0M ($0.40/shr) exceeded $0.32 dividend; net operating loss $47.8M ($0.83/shr) on $70.8M unrealized losses.
NAV per share fell to $12.93 from $14.12 sequentially and from $14.36 a year ago; non-accruals 2.0% at fair value.
Unrealized losses driven by markdowns in Autoalert ($21.5M), Edmentum ($18.6M), Razor Group ($6.3M), plus market spread widening.
Declared Q1 2023 dividend of $0.32/shr, payable Mar 31; special dividend of $0.05 paid Jan 12.
Weighted average effective yield on debt portfolio rose to 12.7% from 11.3%, benefiting from rising base rates.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

BlackRock TCP Capital Corp. reported quarter ended December 31, 2022 results: net income $23.0 million, EPS $0.40 per share.

Period: quarter ended December 31, 2022
Net income: $23.0 million
EPS: $0.40 per share
Result: reported results

Exact text from the filing

Net investment income for the quarter ended December 31, 2022 was $23.0 million, or $0.40 per share on a diluted basis, which exceeded the dividend of $0.32 per share paid on December 30, 2022.

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Source: SEC EDGAR

accession 0000950170-23-004874

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