Trinity Capital Inc. (TRIN) to Issue Quarterly Dividend of $0.51 on January 15th

Trinity Capital Inc. (NASDAQ:TRIN) announced a quarterly dividend on Thursday, December 12th,Wall Street Journal reports. Investors of record on Tuesday, December 31st will be paid a dividend of 0.51 per share on Wednesday, January 15th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 13.79%. The ex-dividend date is Tuesday, December 31st.

Trinity Capital has a payout ratio of 98.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect Trinity Capital to earn $2.11 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 96.7%.

Trinity Capital Price Performance

Trinity Capital stock opened at $14.79 on Friday. The stock has a market cap of $871.22 million, a price-to-earnings ratio of 8.65 and a beta of 0.56. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.07. The business has a 50-day simple moving average of $14.19 and a 200 day simple moving average of $14.18. Trinity Capital has a 52 week low of $13.05 and a 52 week high of $15.26.

Analyst Ratings Changes

Separately, Wells Fargo & Company reissued an “underweight” rating and set a $13.00 price objective on shares of Trinity Capital in a report on Monday, December 2nd.

Insider Buying and Selling

In other news, Director Ronald E. Estes acquired 2,000 shares of Trinity Capital stock in a transaction dated Friday, November 1st. The shares were purchased at an average cost of $13.59 per share, for a total transaction of $27,180.00. Following the transaction, the director now owns 25,836 shares of the company’s stock, valued at $351,111.24. This trade represents a 8.39 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Steve Louis Brown bought 19,350 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was purchased at an average price of $13.12 per share, with a total value of $253,872.00. Following the transaction, the chairman now directly owns 722,182 shares in the company, valued at $9,475,027.84. The trade was a 2.75 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 29,702 shares of company stock worth $392,696. Corporate insiders own 6.38% of the company’s stock.

Trinity Capital Company Profile

Trinity Capital Inc is a business development company. It is a venture capital firm specializing in venture debt to growth stage companies looking for loans and/or equipment financing. Trinity Capital Inc was founded in 2019 is based in Phoenix, Arizona with additional offices in the United States.