---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-004874"
form_type: "8-K"
ticker: "TCPC"
cik: "0001370755"
company_name: "BlackRock TCP Capital Corp."
filed_at: "2023-02-28T23:59:59+00:00"
generated_at: "2026-06-18T21:34:31.233295+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-23-004874
- form_type: 8-K
- ticker: TCPC
- cik: 0001370755
- company_name: BlackRock TCP Capital Corp.
- filed_at: 2023-02-28T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1370755/000095017023004874/0000950170-23-004874-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1370755/000095017023004874/tcpc-20230228.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-004874
- JSON: https://secwatch.observer/filing/0000950170-23-004874.json
- Plain text: https://secwatch.observer/filing/0000950170-23-004874.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1370755/000095017023004874/0000950170-23-004874-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.