Trinity Capital Inc. Declares Cash Dividend of $0.51 per Share for the Second Quarter of 2024

Rhea-AI Summary

Trinity Capital (Nasdaq: TRIN) announced a cash dividend of $0.51 per share for Q2 2024. This marks the 18th consecutive quarter of consistent or increased dividends since its IPO in January 2021. The dividend will be paid on July 15, 2024, to shareholders on record as of June 28, 2024. The company aims to distribute 90%-100% of its taxable income annually to qualify as a regulated investment company under the IRS code. Dividends are paid from taxable earnings and may include returns of capital or capital gains. Specific tax details will be provided via Form 1099-DIV and SEC filings.

Positive

• Cash dividend of $0.51 per share declared for Q2 2024.
• 18th consecutive quarter of consistent or increased dividends since IPO in January 2021.
• Dividend payment date is scheduled for July 15, 2024.
• Trinity Capital aims to distribute 90%-100% of its taxable income annually.
• Qualified as a regulated investment company under the IRS code.

Negative

• Dividend consistency reflects no significant increase from prior quarter.
• Dependence on taxable earnings for dividend payments may pose risks.

18th Consecutive Quarter of a Consistent or Increased Dividend

PHOENIX, June 13, 2024 /PRNewswire/ -- Trinity Capital Inc. (Nasdaq: TRIN) ("Trinity Capital" or the "Company"), a leading provider of diversified financial solutions to growth stage companies, today announced that on June 13, 2024, its Board of Directors declared a cash dividend of $0.51 per share with respect to the quarter ending June 30, 2024. This dividend is consistent with the regular dividend declared in the prior quarter and represents the 18th consecutive quarter of a consistent or increased dividend since Trinity's January 2021 initial public offering.

Summary of Second Quarter 2024 Dividend:

Declaration date	June 13, 2024
Record Date	June 28, 2024
Payment Date	July 15, 2024

The Company's objective is to distribute four quarterly dividends in an amount that approximates 90% to 100% of its taxable quarterly income or potential annual income for a particular year in order to qualify for tax treatment as a regulated investment company under the Internal Revenue Code of 1986. In addition, during any particular year, the Company may pay additional supplemental dividends, so that the Company distributes approximately all its annual taxable income in the year it was earned, or it may spill over the excess taxable income into the coming year for future dividend payments.

Dividends are paid from taxable earnings and may include a return of capital and/or capital gains. The specific tax characteristics of the dividends will be reported to stockholders on Form 1099-DIV after the end of the calendar year and in the Company's periodic reports filed with the Securities and Exchange Commission.

About Trinity Capital Inc.

Trinity Capital Inc. (Nasdaq: TRIN), an internally managed business development company, is a leading provider of diversified financial solutions to growth-stage companies with institutional equity investors. Trinity Capital's investment objective is to generate current income and, to a lesser extent, capital appreciation through investments, including term loans and equipment financings and equity-related investments. Trinity Capital believes it is one of only a select group of specialty lenders that has the depth of knowledge, experience and track record in lending to growth stage companies. For more information, please visit the Company's website at www.trinitycap.com.

Forward-Looking Statements

This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in filings with the Securities and Exchange Commission ("SEC"). The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release. More information on risks and other potential factors that could affect the Company's financial results, including important factors that could cause actual results to differ materially from plans, estimates or expectations included herein or on the webcast/conference call, is included in the Company's filings with the SEC, including in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's most recently filed annual report on Form 10-K and subsequent SEC filings.

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SOURCE Trinity Capital Inc.

FAQ

What dividend did Trinity Capital (TRIN) declare for Q2 2024?

Trinity Capital declared a cash dividend of $0.51 per share for Q2 2024.

When is the dividend payment date for Trinity Capital's Q2 2024 dividend?

The dividend will be paid on July 15, 2024.

What is the record date for Trinity Capital's Q2 2024 dividend?

The record date for the dividend is June 28, 2024.

How long has Trinity Capital maintained consistent or increased dividends?

Trinity Capital has maintained consistent or increased dividends for 18 consecutive quarters.

What is Trinity Capital's objective regarding dividend distribution?

Trinity Capital's objective is to distribute 90%-100% of its taxable income annually to qualify as a regulated investment company.