BlackRock TCP Capital Corp. announced its financial results for the fourth quarter and year ended December 31, 2023. The company reported net investment income of $0.44 per share, exceeding the regular dividend of $0.34 per share. However, net asset value per share decreased to $11.90. Total investment income for the quarter was $50.8 million.
Net investment income for Q4 2023 was $25.3 million, or $0.44 per share.
Net asset value per share was $11.90 at the end of December 31, 2023.
Total acquisitions during Q4 2023 were $40.6 million, and total dispositions were $42.2 million.
A first quarter dividend of $0.34 per share was declared, payable on March 29, 2024.
BlackRock TCP Capital Corp. anticipates that the proposed merger with BlackRock Capital Investment Corporation will close in the first quarter of 2024. The company also believes that the merger will create substantial scale, operational cost synergies, and better access to capital on improved terms, and that the transaction will be accretive to NII and further bolster the earnings power of the combined company.
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