Trinity Capital Inc. Plans Monthly Dividend of $0.17 (NASDAQ:TRIN)

Trinity Capital Inc. (NASDAQ:TRIN) announced a monthly dividend on Wednesday, June 17th. Shareholders of record on Wednesday, July 15th will be given a dividend of 0.17 per share on Friday, July 31st. This represents a c) annualized dividend and a yield of 12.2%. The ex-dividend date of this dividend is Wednesday, July 15th.

Trinity Capital has a dividend payout ratio of 100.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Trinity Capital to earn $2.12 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 96.2%.

Trinity Capital Price Performance

Shares of NASDAQ:TRIN opened at $16.77 on Thursday. The firm has a fifty day moving average price of $16.48 and a two-hundred day moving average price of $15.73. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 8.87 and a beta of 0.62. Trinity Capital has a one year low of $13.76 and a one year high of $17.38.

Trinity Capital (NASDAQ:TRIN) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.01. The firm had revenue of $51.37 million for the quarter, compared to analysts’ expectations of $85.87 million. Trinity Capital had a net margin of 43.45% and a return on equity of 14.94%. Equities research analysts expect that Trinity Capital will post 2.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nomura Asset Management Co. Ltd. purchased a new stake in Trinity Capital during the fourth quarter valued at about $25,000. Flagship Harbor Advisors LLC bought a new stake in Trinity Capital during the fourth quarter worth about $27,000. Sunbelt Securities Inc. purchased a new position in shares of Trinity Capital in the 1st quarter worth about $37,000. Fifth Third Bancorp purchased a new position in shares of Trinity Capital in the 1st quarter worth about $37,000. Finally, JPMorgan Chase & Co. bought a new position in shares of Trinity Capital during the 2nd quarter valued at about $54,000. 24.62% of the stock is currently owned by hedge funds and other institutional investors.

About Trinity Capital

Trinity Capital Corporation (NASDAQ: TRIN) is a publicly traded business development company that provides flexible financing solutions to venture-backed and growth-stage companies. As a venture lender, Trinity Capital offers customized capital structures, including secured debt and equity co-investment, designed to support companies that have progressed beyond early-stage funding but still require non-dilutive growth capital.

The company focuses its investments on technology-driven sectors such as software, fintech, healthcare, life sciences and cleantech.