BlackRock TCP Capital Q4 NII $0.44/share, NAV falls to $11.90; merger with BCIC on track

BlackRock TCP Capital Corp.

2023-FY EPS reported $0.67

Q4 NII $25.3M ($0.44/diluted share) exceeded $0.34 dividend; 47 consecutive quarters of dividend coverage.
NAV per share $11.90 (from $12.72 at Sep 30); net decrease in net assets from operations of $13.3M.
Non-accrual loans 2.0% at fair value (3.7% cost); unrealized losses on Edmentum, Thras.io, Aventiv, Astra, and Nephron.
Q1 dividend $0.34/share payable March 29, 2024 to holders of record March 14; $50M stock repurchase plan renewed.
Merger with BCIC expected Q1 2024; post-merger advisor base fee to drop from 1.50% to 1.25% on assets ≤200% NAV.

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