Trinity Capital Inc. (NASDAQ:TRIN) Declares $0.51 Quarterly Dividend

Trinity Capital Inc. (NASDAQ:TRIN) declared a quarterly dividend on Friday, December 13th,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 annualized dividend and a dividend yield of 13.97%. The ex-dividend date of this dividend is Tuesday, December 31st.

Trinity Capital has a dividend 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 fall. Equities 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 Stock Up 1.7 %

Shares of NASDAQ:TRIN traded up $0.24 on Friday, hitting $14.60. 635,896 shares of the company traded hands, compared to its average volume of 492,356. 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 stock has a 50 day simple moving average of $14.04 and a 200-day simple moving average of $14.20. Trinity Capital has a 52 week low of $13.05 and a 52 week high of $15.44. The company has a market cap of $860.09 million, a PE ratio of 8.54 and a beta of 0.56.

Analyst Upgrades and Downgrades

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

Insider Transactions at Trinity Capital

In other news, Chairman Steve Louis Brown acquired 19,350 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were acquired at an average cost of $13.12 per share, with a total value of $253,872.00. Following the acquisition, the chairman now directly owns 722,182 shares of the company’s stock, valued at approximately $9,475,027.84. The trade was a 2.75 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Ronald E. Estes bought 2,000 shares of the stock in a transaction dated Friday, November 1st. The shares were purchased at an average price of $13.59 per share, with a total value of $27,180.00. Following the completion of the transaction, the director now directly owns 25,836 shares in the company, valued at approximately $351,111.24. The trade was a 8.39 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 29,702 shares of company stock valued at $392,696 over the last 90 days. Company 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.