BlackRock TCP Capital Corp. (NASDAQ: TCPC) has reported its financial results for the second quarter ended June 30, 2025, and filed its Form 10-Q with the U.S. Securities and Exchange Commission. Here are the key financial highlights and changes compared to the previous period:
- On a GAAP basis, net investment income for the quarter ended June 30, 2025, was $27.6 million, or $0.32 per share on a diluted basis, which exceeded the regular dividend of $0.25 per share and a special dividend of $0.04 per share on June 30, 2025. Adjusted net investment income for the quarter was $26.3 million, or $0.31 per share on a diluted basis.
- Net asset value per share was $8.71 as of June 30, 2025, compared to $9.18 as of March 31, 2025.
- Net decrease in net assets from operations on a GAAP basis for the quarter ended June 30, 2025, was $15.9 million, or $0.19 per share, compared to a $20.9 million, or $0.25 per share, net increase in net assets from operations for the quarter ended March 31, 2025.
- Debt investments on non-accrual status represented 3.7% of the portfolio at fair value and 10.4% at cost, compared to 4.4% of the portfolio at fair value and 12.6% at cost as of March 31, 2025.
- Total investment acquisitions and dispositions during the quarter ended June 30, 2025, were approximately $111.5 million and $47.9 million, respectively.
- As of June 30, 2025, net leverage was 1.28x compared to 1.13x at March 31, 2025.
- The advisor waived $1.8 million in management fees for the three months ended June 30, 2025.
- The board of directors declared a third quarter regular dividend of $0.25 per share and a special dividend of $0.04 per share, both payable on September 30, 2025.
- Non-accrual debt investments were associated with 3.7% of the consolidated portfolio at fair value and 10.4% at cost as of June 30, 2025.
- The weighted average annual effective yield of the debt portfolio was approximately 12.0% as of June 30, 2025, compared to 12.2% as of March 31, 2025.
- Total investment income for the three months ended June 30, 2025, was approximately $51.5 million, or $0.61 per share.
- Total operating expenses for the three months ended June 30, 2025, were approximately $23.9 million, or $0.28 per share.
- Net investment income for the three months ended June 30, 2025, was approximately $27.6 million, or $0.32 per share.
- The company's available liquidity was approximately $565.5 million as of June 30, 2025.
These figures indicate changes in net investment income, net asset value, non-accrual debt investments, leverage, management fees, and dividend declarations compared to the previous period. Today the company's shares have moved 0.42% to a price of $7.20. For more information, read the company's full 8-K submission here.