SmarterDividends
TCPC

BlackRock TCP Capital Corp.

TCPC

Financial Services · Asset Management · Stock · quarterly payer

$3.91

Undervalued · +145% Add to Portfolio

Forward Yield

19.41%

Annual Dividend

$0.76

Payout Ratio

389%

5-Yr Growth

-3.2%

Ex-Date

Sep 16, 2026

Frequency

Quarterly

Key facts about TCPC's dividend

Data as of · Source: SmarterDividends data

  • As of Oct 27, 2026, BlackRock TCP Capital Corp. (TCPC) has a forward dividend yield of 19.41%, based on an annual dividend of $0.76 per share and a share price of $3.91.
  • As of Oct 27, 2026, TCPC's dividend safety grade from SmarterDividends is D (41 out of 100), which rates the dividend as unsafe.
  • TCPC last cut its regular dividend in 2025.
  • TCPC's most recent ex-dividend date was Sep 16, 2026, for a dividend of $0.17 per share.
  • As of Oct 27, 2026, TCPC pays out 389% of its trailing 12-month earnings as dividends (its payout ratio).
  • TCPC's dividend has shrunk at an average rate of 3.2% a year over the past five years.
  • As of Oct 27, 2026, TCPC's 19.41% yield is 52% above its five-year average yield of 12.75%.
  • As of Oct 27, 2026, SmarterDividends' blended fair-value estimate for TCPC is $9.56 per share, 145% above the $3.91 share price, so TCPC screens as undervalued.
  • BlackRock TCP Capital Corp. (TCPC) pays its dividend quarterly, 4 times a year.
  • BlackRock TCP Capital Corp. (TCPC) has raised its regular dividend 6 times and cut it 6 times across the 59 payments on record since 2012. Its most recent change was a 32.0% cut to $0.170 per share, going ex-dividend on Mar 17, 2026.
Cite this page

SmarterDividends, "TCPC Dividend: Yield, Safety Grade & Next Ex-Date," updated Oct 27, 2026, https://smarterdividends.com/stocks/TCPC

Summary

As of Oct 27, 2026, BlackRock TCP Capital Corp. (TCPC) yields 19.41% ($0.76 a year per share) and has a dividend safety grade of D (41/100).

Is TCPC a good dividend stock?

Higher risk

BlackRock TCP Capital Corp. (TCPC) pays a quarterly dividend yielding 19.41% ($0.76/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 (389%)
    • 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
    19.41%
    Payout Ratio
    389%
    Annual Dividend
    $0.76
    5-Yr Avg Growth
    -3.2%
    Ex-Dividend Date
    Sep 16, 2026
    Years of Growth
    0
    Frequency
    quarterly
    Beta
    1.06
    Market Cap
    $328.1M
    P/E Ratio
    —
    5-Yr Total Return
    -70%
    52-Week Range
    $3.08 – $6.25
    Dividend Safety
    D · 41/100
    Ever Cut?
    Yes (2025)

    TCPC dividend raises and cuts

    BlackRock TCP Capital Corp. (TCPC) has raised its regular dividend 6 times and cut it 6 times across the 59 payments on record since 2012. Its most recent change was a 32.0% cut to $0.170 per share, going ex-dividend on Mar 17, 2026.

    Ex-dateChangeOld → newMove
    Mar 17, 2026Cut$0.250 → $0.170−32.0%
    Dec 17, 2025Cut$0.290 → $0.250−13.8%
    Mar 17, 2025Cut$0.440 → $0.290−34.1%
    Dec 17, 2024Raise$0.340 → $0.440+29.4%
    Mar 13, 2024Cut$0.440 → $0.340−22.7%
    Sep 14, 2023Raise$0.340 → $0.440+29.4%
    Jun 15, 2023Raise$0.320 → $0.340+6.3%
    Dec 15, 2022Raise$0.300 → $0.320+6.7%
    Sep 15, 2020Cut$0.360 → $0.300−16.7%
    Jun 5, 2013Cut$0.400 → $0.360−10.0%
    Dec 13, 2012Raise$0.350 → $0.400+14.3%
    Sep 12, 2012Raise$0.340 → $0.350+2.9%
    Every TCPC payment →Download every raise and cut (CSV)
    TCPC ex-dividend date & scheduleNext ex-date Sep 16, 2026 · full ex-dividend historyView →TCPC dividend historyEvery payment, totals by year, raises and cutsView →

    Frequently Asked Questions

    Is TCPC a good dividend stock?

    Higher risk. BlackRock TCP Capital Corp. (TCPC) pays a quarterly dividend yielding 19.41% ($0.76/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.

    Is TCPC undervalued?

    Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, TCPC's fair value is about $9.56 versus a $3.91 share price — so it looks undervalued (+145% vs. fair value).

    Is TCPC's dividend safe?

    TCPC has a dividend-safety grade of D (41/100), based on its payout coverage, free-cash-flow, 0-year growth streak, a dividend cut in 2025, debt and yield-versus-history.

    What is TCPC's fair value?

    Our blended fair-value estimate for TCPC is about $9.56 per share, roughly 145% above the current $3.91 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.

    Is TCPC a buy, hold, or sell?

    We don't issue formal ratings, but on the data TCPC screens as "higher risk" and undervalued. BlackRock TCP Capital Corp. (TCPC) pays a quarterly dividend yielding 19.41% ($0.76/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. This is research for your own analysis, not investment advice.

    Will TCPC cut its dividend?

    TCPC earns a dividend-safety grade of D (41/100), and has cut its dividend before (last in 2025). A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.

    Does TCPC pay a dividend?

    Yes. BlackRock TCP Capital Corp. pays a quarterly dividend of about $0.76 per share annually, a forward yield of roughly 19.41%.

    What is TCPC's dividend yield?

    As of Oct 27, 2026, TCPC's forward dividend yield is 19.41%, based on a $0.76 annual dividend and a $3.91 share price.

    What is TCPC's dividend per share?

    As of Oct 27, 2026, TCPC pays $0.76 per share per year, distributed on a quarterly basis.

    What is TCPC's dividend payout ratio?

    As of Oct 27, 2026, TCPC's payout ratio is 389% of trailing 12-month earnings — an elevated level worth watching, as it leaves less cushion if earnings dip.

    How many years has TCPC grown its dividend?

    TCPC does not currently have a long dividend-growth streak on record.

    When is the next TCPC ex-dividend date?

    As of Oct 27, 2026, TCPC's next ex-dividend date hasn't been announced. The most recent was Sep 16, 2026, for $0.17 per share.

    Income Calculator

    At $0.76 / yr per share

    Per payment (quarterly)$19.00
    Annual$76.00
    Monthly avg$6.33

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