---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-079341"
form_type: "8-K"
ticker: "TCPC"
cik: "0001370755"
company_name: "BlackRock TCP Capital Corp."
filed_at: "2026-02-27T23:59:59+00:00"
generated_at: "2026-05-15T23:00:25.342031+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# BlackRock TCP Capital Q4 NII $0.26; NAV drops 19% to $7.07; dividend cut to $0.17

## Summary
- GAAP NII $22.1M ($0.26/sh); adjusted NII $0.25/sh; Q4 net decrease in net assets $118.3M (-$1.39/sh).
- NAV per share fell 19% to $7.07 from $8.71 at Sep 30, driven by six portfolio companies (two-thirds of decline).
- Board declared Q1 dividend of $0.17/sh, down from $0.25 prior; payable Mar 31, 2026 to holders of record Mar 17.
- Non-accrual investments increased to 4.0% of portfolio at fair value (9.7% at cost) from 3.5% in prior quarter.
- Advisor waived $1.8M in management fees for Q4; net regulatory leverage rose to 1.41x from 1.20x.

## SEC filing metadata
- accession: 0001193125-26-079341
- form_type: 8-K
- ticker: TCPC
- cik: 0001370755
- company_name: BlackRock TCP Capital Corp.
- filed_at: 2026-02-27T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1370755/000119312526079341/0001193125-26-079341-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1370755/000119312526079341/tcpc-20260227.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-079341
- JSON: https://secwatch.observer/filing/0001193125-26-079341.json
- Plain text: https://secwatch.observer/filing/0001193125-26-079341.txt

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