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

Trinity Capital Inc. (NASDAQ:TRIN) declared a quarterly dividend on Friday, December 13th,Wall Street Journal reports. Stockholders 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 13.97%. 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. 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 Trading Up 1.7 %

TRIN traded up $0.24 during trading on Friday, hitting $14.60. The company’s stock had a trading volume of 635,896 shares, compared to its average volume of 492,356. The firm has a market capitalization of $860.09 million, a P/E ratio of 8.54 and a beta of 0.56. Trinity Capital has a twelve month low of $13.05 and a twelve month high of $15.44. The stock’s fifty day moving average price is $14.04 and its 200-day moving average price is $14.20. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.07.

Insider Transactions at Trinity Capital

In other Trinity Capital news, CEO Kyle Steven Brown bought 7,562 shares of Trinity Capital stock in a transaction that occurred on Friday, November 1st. The shares were bought at an average price of $13.39 per share, with a total value of $101,255.18. Following the acquisition, the chief executive officer now owns 964,832 shares in the company, valued at approximately $12,919,100.48. This trade represents a 0.79 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronald E. Estes purchased 2,000 shares of the stock in a transaction on Friday, November 1st. The stock was acquired at an average cost of $13.59 per share, with a total value of $27,180.00. Following the completion of the purchase, the director now directly owns 25,836 shares of the company’s stock, valued at $351,111.24. The trade was a 8.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 29,702 shares of company stock worth $392,696 in the last quarter. Insiders own 6.38% of the company’s stock.

Analyst Upgrades and Downgrades

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

About Trinity Capital

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.