BlackRock TCP Capital Corp.
TCPCFinancial Services · Stock · quarterly payer
Forward Yield
21.59%
Annual Dividend
$0.84
Payout Ratio
378%
5-Yr Growth
-3.2%
Ex-Date
Jun 16, 2026
Frequency
Quarterly
Summary
As of August 2026, BlackRock TCP Capital Corp. (TCPC) yields 21.59% ($0.84 per share annually), with a blended fair-value estimate of $12.01 — +192% upside, so it screens as undervalued. Dividend safety grade: D (38/100).
Is TCPC a good dividend stock?
Higher riskBlackRock TCP Capital Corp. (TCPC) pays a quarterly dividend yielding 21.59% ($0.84/yr), with 0 years of growth and a dividend-safety grade of D. Treat the dividend with caution — recent cuts, a stretched payout or a falling price raise the risk.
Advantages
Risks
- Cut its dividend in 2025
- Elevated payout ratio (378%)
- Dividend has been shrinking, not growing
- Very high yield can signal elevated risk
- Share price is down over the past 5 years
- Below-average dividend safety score
Key Data
- Dividend Yield
- 21.59%
- Payout Ratio
- 378%
- Annual Dividend
- $0.84
- 5-Yr Avg Growth
- -3.2%
- Ex-Dividend Date
- Jun 16, 2026
- Years of Growth
- 0
- Frequency
- quarterly
- Beta
- 1.00
- Market Cap
- $327.2M
- P/E Ratio
- —
- 5-Yr Total Return
- -71%
- 52-Week Range
- $3.08 – $7.28
- Dividend Safety
- D · 38/100
- Ever Cut?
- Yes (2025)
Frequently Asked Questions
TCPC Price — Last 12 Months
Daily close
Price Return
1 Year
-43%
3 Years
-67%
5 Years
-71%
52-Week Range
$3.08 – $7.28
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is TCPC worth?
Undervaluedlow confidenceOur blended fair-value estimate for BlackRock TCP Capital Corp. is $12.01 per share, versus a market price of $4.11. That implies 192% of upside — a margin of safety of about 66%.
Fair Value
$12.01
Current Price
$4.11
Upside
+192%
Margin of Safety
66%
How we get there
Discounted cash flow
Discounts projected free cash flow back to today.
Dividend discount
Discounts the future dividend stream back to today.
At today's price, the market is pricing in about -10.0% annual free-cash-flow growth. We model -5.0% — below our estimate, leaving room for upside if the business executes.
Assumptions: 9.3% discount rate (CAPM), -5.0% stage-1 growth, 2.5% terminal growth, -$1.28 EPS, $0.84 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
TCPC Dividend Safety Score
Risky
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Jun 16, 2026 | — | $0.1700 | regular |
| Mar 17, 2026 | — | $0.1700 | regular |
| Dec 17, 2025 | — | $0.2500 | regular |
| Sep 16, 2025 | — | $0.2900 | regular |
| Jun 16, 2025 | — | $0.2900 | regular |
| Mar 17, 2025 | — | $0.2900 | regular |
| Dec 17, 2024 | — | $0.4400 | regular |
| Sep 16, 2024 | — | $0.3400 | regular |
| Jun 14, 2024 | — | $0.3400 | regular |
| Mar 13, 2024 | — | $0.3400 | regular |
| Dec 14, 2023 | — | $0.5900 | regular |
| Sep 14, 2023 | — | $0.4400 | regular |
| Jun 15, 2023 | — | $0.3400 | regular |
| Mar 16, 2023 | — | $0.3200 | regular |
Income Calculator
At $0.84 / yr per share
