---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-25-028392"
form_type: "8-K"
ticker: "TCPC"
cik: "0001370755"
company_name: "BlackRock TCP Capital Corp."
filed_at: "2025-02-27T23:59:59+00:00"
generated_at: "2026-05-26T01:20:24.072560+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# BlackRock TCP Capital Q4 adjusted NII $0.36/sh; NAV drops to $9.23; dividend cut; non-accruals rise

## Summary
- Q4 2024 adjusted NII $0.36/share; full-year adjusted NII $1.52/share.
- NAV per share fell to $9.23 from $10.11 in prior quarter; net leverage 1.14x.
- Non-accrual debt investments rose to 5.6% (fair value) from 3.8% prior quarter.
- Regular dividend cut to $0.25/share from $0.34; special dividend $0.04/share declared.
- Adviser voluntarily waived one-third of base management fee for first three quarters of 2025.

## SEC filing metadata
- accession: 0000950170-25-028392
- form_type: 8-K
- ticker: TCPC
- cik: 0001370755
- company_name: BlackRock TCP Capital Corp.
- filed_at: 2025-02-27T23:59:59+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/1370755/000095017025028392/0000950170-25-028392-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1370755/000095017025028392/tcpc-20250227.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-25-028392
- JSON: https://secwatch.observer/filing/0000950170-25-028392.json
- Plain text: https://secwatch.observer/filing/0000950170-25-028392.txt

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