BlackRock TCP Capital Corp. Reports Fourth Quarter and Full Year 2024 Financial Results
SANTA MONICA, Calif. – BlackRock TCP Capital Corp. (TCPC or the Company), a business development company, recently announced its financial results for the fourth quarter and full year ended December 31, 2024. The Company, which is publicly traded on NASDAQ under the ticker symbol TCPC, reported the following financial highlights:
Financial Highlights
- Net investment income for the quarter ended December 31, 2024 was $33.8 million, or $0.40 per share on a diluted basis.
- Total net assets at December 31, 2024 were $1.7 billion.
- Net asset value per share was $13.54 at December 31, 2024.
- Net realized gains for the quarter were $4.5 million.
- Net unrealized depreciation and amortization was $1.1 million for the quarter.
These results represent a significant improvement over the same period in the previous year. For instance, net investment income for the quarter ended December 31, 2023 was $28.9 million, or $0.35 per share on a diluted basis. The increase in net investment income can be attributed to higher income from the Company’s investment portfolio and lower expenses.
Impact on Individual Investors
For individual investors, the strong financial performance of BlackRock TCP Capital Corp. translates into higher dividends. The Company declared a quarterly dividend of $0.38 per share, payable on March 15, 2025 to shareholders of record as of March 1, 2025.
Impact on the World
On a broader scale, the financial results of BlackRock TCP Capital Corp. reflect the ongoing strength of the business development company sector. Business development companies (BDCs) play a crucial role in the financial system by providing capital and expertise to small and medium-sized businesses that may not have access to traditional sources of financing. The solid performance of TCPC and other BDCs indicates a healthy demand for this type of financing and a robust economy.
Conclusion
BlackRock TCP Capital Corp.’s strong fourth quarter and full year 2024 financial results demonstrate the Company’s ability to generate consistent income for its shareholders and contribute to the growth of small and medium-sized businesses. The increase in net investment income and the declaration of a higher dividend underscore the Company’s financial strength and commitment to its investors. Furthermore, the positive trend in the BDC sector as a whole bodes well for the economy and the financial markets.
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