Trinity Capital Inc. Declares Monthly Dividend of $0.17 for March 31

Trinity Capital Inc. has announced a monthly dividend of $0.17 per share, set to be paid on March 31, 2024. Stockholders of record as of March 13, 2024, will receive this payment, marking a significant commitment by the company to its investors. The declared dividend represents an annualized rate that translates to a yield of 13.4% based on current stock performance.

The ex-dividend date for this payment is also scheduled for March 13, 2024. Notably, Trinity Capital maintains a dividend payout ratio of 100.0%, indicating that the current dividend is fully supported by earnings. Analysts project the company will earn $2.11 per share in the upcoming year, which suggests that the dividend could remain sustainable, with an anticipated future payout ratio of 96.7%.

Trinity Capital’s Financial Overview

As of the latest trading session, Trinity Capital’s stock opened at $15.18. The company boasts a market capitalization of $1.15 billion and a price-to-earnings ratio of 6.93. Over the last year, TRIN has experienced a low of $12.50 and a high of $16.82. The company’s fifty-day moving average stands at $14.85, while its two-hundred day moving average is $15.08.

In recent insider activity, Chairman Steve Louis Brown purchased 4,500 shares on November 7, 2023, at an average price of $14.42 per share. This transaction totaled approximately $64,890, increasing his holdings to 818,466 shares, valued at nearly $11.8 million. Additionally, CEO Kyle Steven Brown acquired 6,920 shares on the same date, costing about $99,924.80 at an average price of $14.44. Following this purchase, his ownership rose to 997,033 shares, worth approximately $14.4 million.

Institutional Investment Trends

Recent data shows that several institutional investors have increased their stakes in Trinity Capital. For instance, Marshall Wace LLP boosted its position by an impressive 4,587.0% during the third quarter, resulting in ownership of 1,151,272 shares valued at $17.8 million after acquiring an additional 1,126,709 shares. Similarly, Two Sigma Investments LP raised its holdings by 83.5%, now owning 986,184 shares worth $15.3 million.

Other significant increases include Van ECK Associates Corp, which raised its stake by 14.9%, and UBS Group AG, which lifted its position by 36.5%. As a result, institutional investors currently hold 24.62% of Trinity Capital’s stock, reflecting growing confidence in the company’s financial outlook.

Founded in 2019, Trinity Capital Inc. is based in Phoenix, Arizona, and specializes in providing venture debt to growth-stage companies. The firm has distinguished itself by focusing on loans and equipment financing, positioning itself as a key player in the business development sector.

As Trinity Capital continues to grow, its commitment to providing dividends and attracting institutional investment underscores its potential stability and long-term viability in a competitive market.